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CBN introduces new charges on ATM cards
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CBN introduces new charges on ATM cards

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The Central Bank of Nigeria has introduced a N100 monthly maintenance fee for a naira dominated debit card in the country.

There is also a N50 charge for other months whether the card is used or not.

Director financial policy and regulation department,CBN, Kevin Amugo says the apex bank is reviewing the extant Guide to Bank Charges, which came into effect in 2013.

The new charge is separate from the existing N65 charge after the third withdrawal within the same month.

The apex bank also introduced a N4,200-per-annum charge on foreign currency denominated cards as maintenance fee and a N50 charge on every cheque leaflet obtained and used.

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