The House of Reps has begged the Central Bank of Nigeria to hold off on jacking up ATM fees because life’s already tough for Nigerians. This call came loud on Tuesday when lawmakers backed a motion from Marcus Onobun, a Rep from Edo State. He told the House that the CBN’s new plan slaps extra charges on ATM withdrawals especially if you use another bank’s machine hitting people hard when cash is tight.
The CBN wants to keep free withdrawals at your own bank’s ATM, but if you use another bank’s machine inside their branch, you pay N100 for every N20,000 you take out. Step outside to a mall or market ATM, and it’s N100 plus an extra N500. Onobun said Nigerians are already battling crazy inflation, high fuel costs, and power bills, so these new fees are like salt on a wound, pushing folks away from banks when the CBN’s supposed to bring them in.
The lawmakers aren’t having it. Onobun argued banks are raking in fat profits but still want more from us without fixing their shaky services think long queues and dead ATMs. Speaker Tajudeen Abbas asked for a voice vote, and the “ayes” roared through. Now, the House is telling the CBN to pause this fee mess and talk it out with their banking committees first.