The Central Bank of Nigeria has implemented new ATM fees, causing frustration among customers who believe these charges unfairly impact the poor. Many customers report that withdrawing cash from ATMs is now costlier than using Point of Sale agents, and they feel the government’s lack of empathy is evident in such policies. There is a growing demand for banks to reconsider these fees, deemed excessive by many.
The Central Bank of Nigeria (CBN) has mandated banks to begin charging fees for Automated Teller Machine (ATM) transactions, which has been met with dissatisfaction from bank customers. Observers reported reactions from various customers in Abuja, expressing concern that the increased ATM fees disproportionately impact the low-income population. For instance, Luke Abudu, a small business owner, lamented that he was charged N100 for a withdrawal of N20,000, stating that this cost is excessively burdensome for people struggling to make ends meet.
In conclusion, the introduction of new ATM fees by Nigerian banks, as mandated by the CBN, has drawn significant criticism from customers who feel these charges will adversely affect low-income individuals. Many customers contend that such policies reflect a disconnect between government actions and the hardships faced by the populace. As banks implement these charges, the call for a reconsideration of such fees is growing louder among consumers frustrated by perceived corporate greed and the lack of consideration for their financial struggles.
Original Source: gazettengr.com
