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Senate Directs CBN To Suspend ATM Card Maintenance Charges

Senate Directs CBN To Suspend ATM Card Maintenance Charges

by | 18th October 2018
Bukola Saraki

The Nigerian Senate, on Wednesday directed the Central Bank of Nigeria to suspend ATM Card Maintenance Charges deducted by banks.

 

The leader of the Nigerian Senate Bukola Saraki, shared the news on Twitter, writing:

 

Today, at the Senate, we passed a resolution calling on @CenBank to suspend the excessive ATM card maintenance charges being deducted from customers.

 

 

 

This resolution came as part of a motion on the illicit and excessive bank charges on customers accounts, sponsored by Senator Olugbenga Ashafa (Lagos East, APC).

 

The Senate also called on commercial banks operating in the country to configure their machines to dispense up to N40,000 per withdrawal pending the outcome of the investigation by the Senate committees tasked with investigating the excessive and illicit bank charges.