PRESIDENT OF GERMANY LAUDS THE LEADERSHIP ROLE OF NIGERIA AND PRESENT TINUBU IN ECOWAS. (PHOTO).

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 PRESIDENT OF GERMANY LAUDS THE LEADERSHIP ROLE OF NIGERIA AND PRESENT TINUBU IN ECOWAS  The President of Germany, Frank Walter  Steinmeier has commended President Bola Tinubu for the excellent relations between the two countries especially their State to State visits and frequent meetings at the sidelines of multi lateral fora. He also talked on the expeditious processing of The Designate - incoming German Ambassador to Nigeria, to replace the re - designated incumbent.  A statement by the Nigeria Ambassador to Germany, Senator Ita Solomon Enang indicates that the Bilateral discussions centred, among others on Economic relations, the power sector, and in particular the off grid Technology, the Siemens power, Agricultural, food and citizen diplomacy, Migration and Consular matters, particularly provisions for Skilled Nigerians in Medical, Technology, I T, AI, and sundry skills, crafts, etc all to be engaged in the varied sectors of the German economy through formal p...
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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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