The Home of Representatives has urged the Central Financial institution of Nigeria (CBN) to droop its directive growing ATM withdrawal prices.
This decision resulted from a movement on pressing nationwide significance moved by Marcus Onobun representing (Esan Central/West/Igueben Federal Constituency of Edo State on Tuesday.
Mr Onobun mentioned that further ATM withdrawal prices would additional restrict Nigerians’ monetary inclusion by discouraging low-income earners from accessing banking providers.
He mentioned Nigerians have been already grappling with financial hardships, together with excessive inflation, elevated gas costs, electrical energy tariff hikes, and quite a few banking and repair prices.
The lawmaker warned that elevated ATM withdrawal prices would contradict the CBN’s monetary inclusion agenda.
The movement mentioned, “Conscious that CBN, in its new round, has reviewed the ATM transaction charges stipulated underneath Part 10.7 of the CBN Information to Expenses by Banks, Different Monetary and Non-Financial institution Monetary Establishments.
“Prescribing a rise in ATM withdrawal prices and a discontinuation of the free ATM withdrawals for purchasers utilizing different banks’ ATMs.
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“Thereby imposing further monetary burdens on Nigerians.
“Additionally conscious that the mentioned Part 10.7 of this Information was final reviewed in 2019.
“Decreasing ATM transaction charges from N65 Naira to N35 per transaction.”
The Speaker, Abbas Tajudeen, and all the Home adopted the movement, urging the CBN to droop the rise in ATM withdrawal prices.
(NAN)
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