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New ATM fees: Banks begin implementation, customers groan

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Banks have commenced implementation of the new Automated Teller Machine (ATM) transaction fee charge on customers following the Central Bank of Nigeria (CBN’s) directive.

The News Agency of Nigeria (NAN) correspondent who monitored some banks’ ATM gallery in Abuja and environs on Sunday, reports that some customers were lamenting about the increase.

NAN reports that all the banks’ ATM visited had monies loaded in them.

Mr Luke Abudu, a customer seen at First Bank along Nyanya-Jikwoyi road, said the implementation would only affect the poor masses who were struggling to make a living.

Abudu said the move would discourage customers from lodging monies in the banks.

”I came to withdraw N20,000 but I found out that I was charged N100 for the withdrawal.

‘”This is too much for a small business owner like me,” he said.

Another customer, Mrs Victoria Adejo, seen at Zenith Bank, Mararaba branch said that withdrawal from Point of Sale (PoS) agent was now cheaper than using an ATM.

”It is unfortunate that our government formulate policies without feeling the pulse of the people.

”I read that the CBN said the decision is in response to rising cost and to improve efficiency of ATM services but banks still bill us for service charge.

”They (banks) declare profit in billions and trillions from our monies and the CBN does not consider that.

”This is not good enough at all, ” she said.

Mr Nurudeen Ehimotor, a customer at Guaranty Trust Bank (GTB), Asokoro, said he was at the bank to use the ATM due to the bank’s poor online network.

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”I came to use ATM because I tried to transfer money from my bank using USSD since yesterday but it didn’t go through.

”I have an issue with my app, so I have been using USSD codes for my transfer.

”I think they (the bank’s) are trying to make people use ATM now for them to make more money,” he said.

Ehimotor appealed to banks to reduce incessant charges on customers account.

NAN reports that the CBN had on Feb. 10, released a circular to all banks and other financial institutions to apply the fees with effect from March 1.

CBN in the circular with title ‘Review of ATM transaction fees’ said the move was in response to rising cost and the need to improve efficiency of ATM services in the banking industry.

On-Us (customers withdrawing at the ATM of the customer’s financial institution) in Nigeria, no charge.

”Not-on-Us ( withdrawal from another institution’s ATM) in Nigeria; On-site-ATMs: A charge of N100 per N20,000 withdrawal.

”Off-site ATMs: A charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal.

”The income which is an income of the ATM acquirer/deployer, shall be disclosed at point of withdrawal to the consumer,” it said.

Meanwhile, banks had informed their customers through various electronic mails (e-mails) of the increase.

GTB told its customers in addition to the ATM transaction fee, that the free monthly withdrawals usually enjoyed by them would no longer be applied.

”Please note that the three free monthly withdrawals at other banks’ ATMs (for GTBank customers) and GTBank ATMs ( for other bank customers) will no longer apply,” the bank said.

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Also, Access Bank in their official X handle told customers that ”All Access Cards now work seamlessly across all ATMs and POS machines, so you can make payments without hassle”. (NAN)

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NSA assures Benue of FG’s commitment to end insecurity

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The National Security Adviser (NSA) to the President, Mallam Nuhu Ribadu, on Tuesday assured the people of Benue of the Federal Government’s determination to end insecurity.

Ribadu gave the assurance during a stakeholders’ meeting in Makurdi, following the killing of over 72 persons in Ukum and Logo Local Government Areas on Good Friday.

He stated that President Bola Tinubu had emphasised that Benue was not alone in its current security challenges, noting that the entire country was grappling with similar issues.

Describing the killings as a national tragedy, Ribadu said, “It was evil that visited the state.”

He added that the Tinubu administration inherited a deeply troubled nation and was working diligently to repair the damage.

“I’m here to commiserate with you and the good people of Benue over the loss of your people and to assure you that the country stands with you.

“The President is with you. This is a trying period for us all.

“This is a moment of sorrow, and it is during such times that you know those who truly care.

“What happened is a tragedy — an act of evil. But when evil comes, good people must unite to confront it.

“Benue is an extremely important state in Nigeria. As the food basket of the nation, you are number one in food production, and we are proud of you.

“We will solve this problem together. Do not feel alone — this challenge affects us all.

“Our armed forces and security agencies are doing their best, but such incidents persist because it is impossible to deploy personnel to every hamlet.

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“Countries go through difficult phases. Insecurity is a tough challenge to overcome.

“Causing harm is easy, but solving the underlying issues is much harder — yet we are doing our best.

“As a government of less than two years, we have already significantly reduced the levels of extreme violence we inherited,” he said.

In his remarks, Gov. Hyacinth Alia described the situation as a sober moment for the state, saying that Benue had been under siege with immense loss of lives since 2011.

He lamented that killings by terrorists, bandits, and militias had devastated the state’s economy.

“These people have no reason to coexist with peaceful citizens. We have suffered the loss of lives, farmlands, and property.

“There are currently 17 IDP camps in the state, and it has been difficult to return our people to their ancestral homes.

“Sankera is the headquarters of food production in the state, yet the attacks have been persistent and unrelenting.

“Instead of a Good Friday, we experienced a Black Friday, marked by venomous attacks on Katsina-Ala, Ukum, and Logo.

“It is a devastating time for us. We lost 72 lives — it is unbearable. I have maintained regular contact with the NSA.

“Our security agencies have worked tirelessly to contain the attacks, but we urgently need more support.

“The President has been very supportive, and we are hopeful that more help is on the way,” the governor said.(NAN)

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IMF cuts global growth forecast to 2.8% over tariff uncertainty

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The International Monetary Fund (IMF) on Tuesday lowered its global economic growth forecast for 2025 to 2.8 per cent.

Predicting the wave of tariffs and uncertainty unleashed by U.S. President Donald Trump will lead to a worldwide economic slowdown.

The IMF revised its projection of 3.3 per cent forecast in January.

Global growth for 2026 was projected to drop to 3 per cent, also down from 3.3 per cent.

IMF economic counsellor Pierre-Olivier Gourinchas said the world economy was being severely tested following the new tariffs announced by Trump.

The IMF noted that its April forecast was “put together under exceptional circumstances,

“ Citing Trump’s announcement on April 2 that the U.S. was imposing blanket tariffs of 10 per cent on nearly all trading partners, plus additional levies for a host of countries.

While the higher tariffs have been suspended for 90 days to allow for trade negotiations, the policy caused the IMF expert “to jettison our projections,” Gourinchas said.

“While many of the scheduled tariff increases are on hold for now, the combination of measures and countermeasures has hiked U.S. and global tariff rates to centennial highs.”

The global economy proved surprisingly resilient during the shocks of the last four years including a period of global high inflation linked to energy prices and “the war in Ukraine and still bears significant scars,” the IMF said.

Now, inflation could rise again amid the trade tensions, while the uncertainty surrounding them was weighing on growth, it said. (dpa/NAN)

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Investigation Ordered into Allegations of ₦5.2 Million Extortion by NSCDC Personnel

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The Minister of Interior, Hon. Olubunmi Tunji-Ojo, has initiated a prompt investigation into claims of extortion involving members of the Nigeria Security and Civil Defence Corps (NSCDC).

A viral social media post accused the officers of extracting ₦5.2 million from a group of young men traveling from Ado-Ekiti in Ekiti State to Akure in Ondo State.

In a statement, the Minister’s Special Adviser on Media, Babatunde Alao, emphasized that any officer found culpable will be held accountable to the fullest extent of the law.

“We will not tolerate any misconduct from our security agencies. We are committed to developing a disciplined and professional paramilitary force that serves Nigeria and its citizens with honor and patriotism.”

The minister asserted, “In this matter, we will ensure that justice prevails and that security personnel act with integrity.”

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