Starting March 1, 2025, Nigerian banks will charge N100 for N20,000 withdrawals at on-site ATMs and N600 for off-site withdrawals. The fees apply to transactions from ATMs outside a customer’s bank, while international ATM withdrawals will be subject to cost recovery charges.
As of March 1, 2025, Nigerian banks have implemented new ATM transaction fees in line with a directive from the Central Bank of Nigeria (CBN). Customers withdrawing up to N20,000 from an on-site ATM, which is located within or directly affiliated with a bank branch, will now be charged N100. For off-site ATMs—those situated in public spaces like shopping malls or gas stations—the fee has increased to N600 per transaction.
Withdrawals from a customer’s own bank’s ATM will remain free of charge. However, customers who use another bank’s ATM for amounts under N20,000 will still face the N100 charge. International ATM withdrawals will be subject to fees based on the exact cost charged by the international acquirer.
The CBN has explained that the fee adjustment is necessary to address the rising costs of operating ATM services and to improve the overall efficiency of the banking industry’s infrastructure. These new charges come as part of the central bank’s broader efforts to sustain ATM operations in the country while managing costs.
