See more as Banks give another option as SMS alert fee increases from today

• Nigerian banks person accrued the SMS interest alert for transactions successful effect to the latest telecom tariff hike
• The caller SMS transaction alert interest volition statesman from May 1, 2025, up from the erstwhile N4, reflecting a 50% increase
• Banks, including Guaranty Trust Bank, informed customers via email astir the revised charges

Legit.ng journalist Dave Ibemere has implicit a decennary of business journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Nigerian banks person commenced the implementation of N6 per SMS transaction alert, marking a 50% summation from the erstwhile interest of N4.

This accommodation comes successful effect to a caller telecommunications complaint summation approved by the Nigerian Communications Commission.

Nigerians to wage N6 for each transaction SMS alert Photo credit: Bloomberg/contributor
Source: Getty Images

Banks person communicated to their customers astir the caller interest done emails and different connection channels, advising those who bash not privation to person SMS alerts to opt out.

Guaranty Trust Bank, successful an email titled "Increase successful SMS Transaction Alert Fee," informed customers astir the caller complaint effectual from today, May 1, 2025.

The connection reads:

“Dear Valued Customer, Please beryllium informed that effectual Thursday, May 1, 2025, the SMS transaction alert interest volition summation from N4 to N6 per message. “This accommodation is owed to a caller summation successful telecom rates arsenic communicated by the telecommunication work providers.“Kindly enactment that transaction alerts are important and assistance you support way and enactment successful power of activities connected your account.“If you similar not to person transaction alerts via SMS, you tin update your preferences by completing the transaction alert signifier connected our website.“SMS alerts to planetary telephone numbers are taxable to higher charges.”

Nigerians to wage caller interest connected SMS transactions Photo credit: Bloomberg/contributor
Source: Getty Images

Similarly, EcoBank told its customers about the caller changes successful a connection titled reappraisal of SMS notification charges

"Update connected SMS Notification Charges. Dear valued customer, We would similar to pass you that the outgo of SMS notifications volition summation from N5 to N6, effectual May 1, 2025, owed to a revised tariff."We recognize that this alteration whitethorn origin immoderate inconvenience and privation to guarantee you that the determination was made aft cautious consideration. We stay committed to delivering the champion imaginable work and sincerely admit your knowing and continued support.If you person immoderate questions oregon necessitate further assistance, delight bash not hesitate to interaction our 24/7 Contact Centre via the channels below."

NCC approves caller telcom tarrif

In January, Legit.ng reported that the NCC approved a 50% tariff increase for telecoms operators successful the country.

For years, Mobile Network Operators (MNOs) and different stakeholders person urged the authorities to see rising ostentation and o.k. a tariff hike connected data, calls, and SMS services.

MTN reacts to FG’s support of 50% hike

Legit.ng reported that MTN has reacted to the national government's determination to summation call, data, and SMS tariffs.

The telecommunications elephantine assured subscribers that the tariff accommodation would amended services.

Karl Toriola, CEO of MTN Nigeria, said the accommodation would code rising operational costs and guarantee captious investments successful infrastructure successful the telecom industry.

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Source: Legit.ng