As of March 1, 2025, Nigerian banks have implemented a new fee structure for Automated Teller Machine (ATM) withdrawals, as directed by the Central Bank of Nigeria (CBN). Under this revised policy, customers withdrawing cash from ATMs of banks other than their own will incur a fee of ₦100 per transaction for amounts up to ₦20,000. This change eliminates the previous allowance of three free interbank ATM withdrawals per month.

To mitigate the impact of these charges, banks have ensured that their ATMs are well-stocked with cash, encouraging customers to use their own bank's machines to avoid additional fees. For example, during a recent survey in Lagos, various banks' ATMs were observed to be loaded with cash, and notices about the new charges were displayed to inform customers.

The CBN has clarified that these measures aim to streamline ATM services and discourage customers from making multiple small withdrawals to evade fees. Additionally, the CBN has warned banks against limiting ATM withdrawals to amounts below ₦20,000 per transaction when customers have sufficient funds and desire higher sums, stating that such practices would result in sanctions.

Customers are advised to use their own bank's ATMs or explore alternative payment channels, such as mobile banking apps and Point of Sale (PoS) devices, to avoid incurring these additional charges.