Nigerians kick against CBN N100 ATM maintenance fee

ATM cards 1-Fullscreen capture 3252016 53151 PM

A couple of days back, the Central Bank of Nigeria (CBN) introduced N100 ATM card maintenance fee in addition to the already existing N65 deduction from depositors’ accounts after three consecutive withdrawals with the ATM card. This has been generating reactions from different quarters of the country since the new charge was proposed.

A cross section of Nigerians ENCOMIUM Weekly sought their views on this condemned the decision of the apex bank, describing it as fraudulent and unacceptable.


‘That is not a new thing now’ – Habeebat Taihru

That is not a new thing now. They have been doing that since. That is Nigeria for you, a country where our leaders derive pleasure in cheating us. I heard that any transaction you make now, either you deposit or withdraw, they will deduct a fee because Nigeria owes some debt.

We do not enjoy any benefit from our own government, yet they exploit us. What about those people stealing money up there, can’t they collect the money to settle the debt. One thing that I know for sure is that God will judge everyone according to his deeds. Let them continue cheating us.


‘What are they maintaining’ – Agbetoye Idowu

What are they maintaining, are they the ones using the card or me? Is it that when the card gets spoilt or lost, I wouldn’t pay N1,000 for a new card? This is just cheating and Nigerians should rise against it, they are exploiting us too much.


‘This our country is something else’ – Kayode Taiwo

Card maintenance fee for which card? The same card I am keeping or there’s another one they are maintaining? This our country is something else. All these politicians will not speak up against things like this.

Is it from us that the government wants to make the money to change the country?

All this bank charges are baffling. To them, it looks like small money; N100 here, N50 there put it together and you’ll see that they are making a lot of money from customers.

They should cancel it. Which one is card maintenance fee!


‘This government doesn’t care about the masses again’ – Dimeji Komolafe

It seems to me that our banks don’t care about customers, they are just concerned about making profits. Which is why I support the idea of no banking day.

It’s appalling. They charge for everything. They charge for producing the card in the first place, now they’re charging to maintain it. Does that make any sense?

It means they charge to sell a product to me, and still charge me when I use that same product. What sense does that make? If every business runs like that, we’ll all be making money. I hope they are called to order because it is getting out of hand.


‘I don’t understand CBN again’ – Tayo Omilana

I don’t understand what the CBN means by card maintenance fee. In what way is the CBN maintaining my card for me? It’s just a surprise interpretation of the fact that the Federal Government is broke and it can only raise funds through imposition of all these illegal charges in depositors’ money in the banks.

Just recently, a stamp duty of N50 on every deposit was charged. Now, it’s ATM card maintenance fee of N100 after we’re ready for N65 after three withdrawals. I don’t support that. It’s exploitation on the part of the masses.


‘It’s cheating of the highest order’ – Chika Ugochukwu

It’s cheating of the highest order for the Central Bank of Nigeria to be deducting another N100 for ATM card maintenance after already deducting N65 after three withdrawals. The essence of keeping my money in the bank is to save it and not to get it depreciated by all these charges. I can’t understand what’s going on. If Buhari knows he can’t rule Nigeria again, he should just tell us.

Anyway, 2019, is around the corner, he would be voted out the way he was voted in 2015, because this is not the kind of change we’re expecting from his administration. He’s only making things worse by the day.

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