Nigerian Banks Begin Charging N100 for ATM Withdrawals Today

Starting today, March 1, 2025, Nigerian banks will implement new charges for ATM cash withdrawals, following a directive from the Central Bank of Nigeria (CBN).

Same Bank Withdrawals: Customers withdrawing from their own bank’s ATMs will not be charged.

Other Bank Withdrawals: Withdrawals from ATMs of other banks will now attract a fee of N100 per N20,000 withdrawal.

On-Site ATMs (Within Bank Premises): A charge of N100 per N20,000 withdrawal applies.

Off-Site ATMs (In Malls, Fuel Stations, Etc.): A fee of N100 per N20,000 withdrawal, plus an additional surcharge of up to N500, may apply.

No More Free Withdrawals: The previous policy allowing three free monthly withdrawals from other banks’ ATMs has been removed.

The CBN says these changes are aimed at managing rising operational costs and improving ATM service efficiency nationwide.