The Central Bank of Nigeria and the Bankers
Committee on Tuesday finally agreed to put a
stop to all charges associated with the use of
Automated Teller Machines.

The agreement was the highpoint of a meeting
between the committee made up of Chief
Executive Officers of Deposit Money Banks, and
directors and top officials of the CBN. At the end
of the meeting, the Director, Banking Supervision
Department, CBN, Mrs. Agnes Martins, addressed
journalists in company with the Group Managing
Director, Union Bank of Nigeria Plc, Mr. Emeka
Emuwa; Group Managing Director, First Bank of
Nigeria Plc, Mr. Bisi Onasanya; and acting
Managing Director, Keystone Bank Limited, Dr.
Shehu Muhammed.

Before now, account holders had been made to
pay a flat rate of N100 per withdrawal any time
they used ATMs other than the ones that
belonged to their banks.

But Onasanya said the decision to stop the
charge would help to increase the patronage of
ATMs, thus deepening the financial inclusion
strategy of the central bank. He said the
modalities for the stoppage were being worked
out, adding that within the shortest time possible,
the adjustments would be reflected on all the

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Posted By KELLYCHI On 05:39 Thu, 15 Nov 2012

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