SERAP threatens CBN with legal actions if increase in ATM transaction is not reversed
If CBN fails to “reverse the patently unlawful, unfair, unreasonable, and unjust increase in ATM transaction fees,” it will face legal action.
SERAP threatens CBN with legal actions if increase in ATM transaction is not reversed
The Socio-Economic Rights and Accountability Project (SERAP) has given the Central Bank of Nigeria (CBN) an ultimatum of 48-hours to reverse the recent hike in ATM transaction charges and fees. SERAP is a Nigerian non-governmental organization (NGO) dedicated to promoting transparency, accountability, and respect for socio-economic rights in Nigeria. The organization made this statement on its X, formerly Twitter page. According to the organization, CBN’s act to increase fees charged by automated teller machines (ATMs) in Nigeria is “unlawful, unfair, unreasonable, and unjust,” especially for citizens living below average in Nigeria. BREAKING: We’ve given the Central Bank of Nigeria [CBN] 48 hours to reverse the patently unlawful, unfair, unreasonable, and unjust increase in ATM transaction fees, or face legal action. The charges will hit hardest those at the bottom of the economy. @cenbank — SERAP (@SERAPNigeria) February 16, 2025 SERAP warns the apex bank that if its does not comply withi…
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Temmy Samuel is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently, he’s studying Accounting at the Federal University of Oye-Ekiti.
