ATM&CARDS Weekly Newsletter
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September 15, 2014 Volume 9 No 3
CeBIH Seeks Support for Policy on ATM The Chairman of the Committee of ebanking Industry Heads (CeBIH), Mr. Tunde Kuponiyi has called for understanding of bank customers on the recently introduced charge on remote-on-us ATM withdrawals. He said industry statistics compiled by CeBIH showed that inter-bank cash withdrawals rose from 33.4 million transactions with a value of N91 billion in January 2013, to 66.8 million transactions with a value of N168 billion as at December 2013. According to Kuponiyi, during this period, it was also discovered that members of the public engaged in uncontrolled use of their debit cards on other banks’ ATMs such that
customers engaged in as many as 160 transactions in a month. This, according to him necessitated the recent re-introduction of a N65 charge on the use of other banks’ ATMs. “The re-introduced fee of N65 is to ensure that bank customers take up the responsibility for the cost associated with transactions carried out on other banks ATMs “It is worthy of note that in reintroducing the charges, three free remote-on-us transactions are allowed per customers per month. This means that banks still bear a cost of N195 per customer per bank,” he explained. Kuponiyi also expressed belief that the banking populace would be encouraged to
adopt the various alternative payment channels in the country, saying the policy would help the federal government realize the aim of the cashless policy. “It is also pertinent to educate members of the public that the cards being issued by the banks are not only meant for ATM cash withdrawal but are activated for a wide range of services on ATM and other alternative channels. “Such services include bills payment (DSTV, PHCN e.t.c), intra and Inter-bank transfers, airtime purchase, donations, embassy payments, dealer payments, utility bills and school fees amongst others,” he said.
Activists Protest Reintroduction of ATM Charges
Protesters standing on the street in Agege carried placards and singing solidarity songs are condemning the CBN for reintroducing ATM charges. They continue to fault the introduction of charges of N65.00 on ATM withdrawals, saying that it shows how inconsistent some of our rulers could be.
In a three-point demand the activists urged “that if the policy is not reversed, Nigerians shall transfer their aggression on President Jonathan who appointed Emefiele to add pains to the plight of the mass of Nigerians.” They further roused the National Assembly to question the reintroduction of charges on ATM with a view to abolishing it.
Declan Ihekaire said “the new policy on ATM withdrawals, if carefully studied, makes clear that the current CBN Governor Godwin Emefiele is yet to come to terms with the responsibilities of the office.”
According to one demonstrator who spoke with Sahara Reporters, “It is evident that this government is shortsighted and selfish as most of their policies are anti-people,”
“The intent of the recent policy is very clear to the policy makers, who had chosen to better the lots of bankers at the detriment of the bank users,” he said.
The grand climax of the protest was the symbolic burning of a coffin to show denunciation of Jonathan’s alleged use of the CBN governor to raise more funds for his presidential ambition.
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