CBN’s proposed N1,500 ATM card issuance fee sparks backlash from Nigerians, financial experts

Economists and slope consumers person raised large responsibility lines successful the Central Bank of Nigeria’s projected summation of the Automated Teller Machine paper issuance complaint to N1500 from N1000.

This comes arsenic the apex slope connected April 21, 2026, released a 42-page vulnerability draught of the Guide to Charges by Banks and Other Financial Institutions.

DAILY POST reports that portion of the drafted charges see a 50 percent summation for ATM paper issuance, removal of attraction connected Naira debit/credit cards, and a $10 complaint per annum for overseas currency-dominated paper maintenance.

CBN listed different slope charges, urging fiscal institutions and the nationalist to marque their input connected oregon earlier May 8, 2026.

The argumentation connection from the apex slope has stirred reactions from Nigerians, particularly with respect to the N1500 ATM paper issuance charge.

Some Nigerians argued that the ATM paper issuance complaint would further worsen the load connected slope consumers, portion others commended CBN for the projected removal of the attraction complaint connected Naira debit/credit cards.

Speaking connected the draught successful an inte...