Central Bank of Nigeria defends reintroduction of fees on ATM withdrawals
Bank says reintroduction of fee abolished in 2012 will hinder abuse of ATMs
The Central Bank of Nigeria (CBN) has defended its decision to reintroduce a fee on ATM withdrawals, describing it as a "critical" measure taken to prevent the abuse of ATMs and ensure the interoperability of the country's payment systems.
The CBN announced the introduction of a 65 naira ($0.40) fee on withdrawals from ATMs that are not operated by the customer's own bank – a so-called "remote-on-us" transaction – in a circular last Thursday.
The move prompted strong reactions from Nigerians
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