ECOWAS CALLS FOR DIALOGUE AMID ESCALATING TENSIONS BETWEEN ALGERIA AND MALI. (PHOTO).

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 ECOWAS Calls for Dialogue Amid Escalating Tensions Between Algeria and Mali The West African organization called on Mali and Algeria to resort to dialogue and use regional and continental mechanisms to resolve disputes, Sputnik reported. Diplomatic tensions between Mali and Algeria escalated after Algerian armed forces shot down a Malian drone near the border town of Tin Zaouatine in late March. Algeria stated that the drone violated its sovereignty. Bamako, for its part, denieed any incursion into its neighbor's airspace. The incident prompted a series of political reactions, including the recall of the ambassadors of Mali, Burkina Faso, and Niger from Algiers, as well as the closure of airspace between Algeria and Mali. Algeria is not a member of ECOWAS, and Mali withdrew from it at the end of January.
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BANKS BEGIN N100 ON-SITE ARM CHARGES, N600 FOR OFF-SITE PER N20, 000 WITHDRAWAL. (PHOTO).

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 Banks begin N100 on-site ATM charges, N600 for off-site per N20,000 withdrawal


Commercial banks across Nigeria have commenced charging customers N100 per N20,000 withdrawal from their on-site Automated Teller Machines (ATMs) and N600 for off-site ATM following a directive issued by the Central Bank of Nigeria (CBN).


This development was announced by the Central Bank of Nigeria in a circular dated February 10, 2025 on the review of ATM transaction fees, scheduled for implementation from today, March 1, 2025.


Under the updated fee structure, withdrawals from a customer’s own bank ATMs remain free. However, customers using ATMs of other banks will now pay a charge of N100 per withdrawal of N20,000 or less at on-site ATMs, which are located within or directly affiliated with a bank branch.


”Off-site ATMs, which are positioned outside bank premises in locations such as shopping malls, fuel stations, and other public spaces, will attract an additional surcharge of up to N500 per transaction.


”For international ATM withdrawals, charges will be based on cost recovery, meaning customers will bear the exact fee applied by the international acquirer.


The CBN stated that the new charges were introduced due to “rising costs and the need to improve the efficiency of ATM services in the banking industry.”

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