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NASS moves to tame banks over N65 ATM charge

Worried by complains, the House of Representatives yesterday resolved to investigate the N65 being charged customers by commercial banks for Automated Transaction Machine (ATMs).

Accordingly, it has directed its Committee on Banking and Currency to investigate the charge and other related rates paid by banks’ customers.

The resolution followed a motion under Matters of Urgent Public Importance moved by Tijani Yusuf (PDP-Kogi), which was unanimously adopted by members through a voice vote.

Bank customers can withdraw from ATMs other than those of their banks freely thrice a month. Subsequent withdrawals would attract a N65 charge.

Moving the motion, Yusuf expressed concern that banks across the country had been extorting N65 from customers from every bank transaction while the Central Bank of Nigeria (CBN) has failed to act.

He cited example saying recently, banks in the UK were asked to pay customers monies collected from them in the name of bank charges.

Contributing,  Rep. Aminu Suleiman (APC-Kano) accused the CBN of not doing its job as a regulatory agency.

In line with its mode of operations, the house therefore referred the matter to the Banking and Currency committee directing the Committee to file in report in one month.

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