Banks are loading their ATMs with cash as they commenced charging N100 for transactions on March 1.

The Central Bank released the revised ATM transaction fees in a circular dated February 10, 2025. Under the revised fee structure, withdrawals from one’s bank ATMs will remain free of charge.

However, customers using ATMs of other banks will be subjected to a charge of N100 per withdrawal of N20,000 or less at on-site ATMs, which are located within or directly affiliated with a bank branch.

Off-site ATMs, which are positioned outside bank premises such as shopping malls, fuel stations, and other public spaces, will attract an additional surcharge of up to N500 per transaction.

For international ATM withdrawals, charges will be based on cost recovery, meaning customers will bear the exact fee applied by the international acquirer. CBN also clarified that Nigerians withdrawing less than N20,000 from another bank’s ATM will still be charged a fee of N100 per transaction.

On Sunday afternoon, when The TheNigerian monitored the banks in Lagos, it was observed that banks loaded their ATMs with cash, thus limiting the chances of their customers using another bank’s ATM and incurring the extra charge.

At the Wema Bank Branch at Barracks Bus Stop along Funsho Williams Avenue in Lagos, the ATMs notified other banks’ cardholders that they would be charged “N107.50 inclusive in addition to the stated amount.”

There were four ATMs on the premises, and they were all loaded.

When asked about the N100 charge, the bank’s security personnel said there was nothing they could do, as it was from the authorities.

The ATMs at the nearby First Bank branch told other banks’ customers attempting to withdraw money from it, “The amount charged on your account may include a fee of N100 in addition to the requested amount.”

This is in addition to any fee charged by your issuer.”

The ATMs at the Access Bank branch at Ojuelegba asked the customers of other banks to confirm if they were willing to pay the access fee of N100.

An attempt to withdraw N10,000 with a Union Bank card brought up a cash withdrawal confirmation page asking, “Please confirm if you wish to continue, Amount withdrawn: N10,000, access fee: N100, transaction amount: N10,100.”

The ATMs at the Zenith Bank branch near Empire Bus Stop brought up a similar notice, saying, “The amount charged to your account will include a fee of N107.50.” and asked if the customer wanted to proceed.

Guaranty Trust Bank branch just next door provided a breakdown of the ATM transaction charges, stating, “Dear valued customer, in line with CBN’s directive, there will be a charge of N100 and N7.50 VAT for cash withdrawals of other banks’ cards on GTCo ATMs.”

All the bank branches visited had cash, and the branches had at least four ATM points.

Meanwhile, some customers are lamenting the extra cost they have to pay for ATM use.

A bank customer, Eze Chinonso, lamented that it was one more inconvenience to deal with on his meagre salary from security work.

“This is another cost I must pay to use my money. The cost of data has gone up and other costs as well. Honestly, this is squeezing an already stressed pocket,” he lamented.

A social media user on the X platform, Opel Nnenna (@opelnnenna3), also bemoaned the charges and shared an email from a fintech firm on the charges, which partly read, “In line with the CBN’s recent review of ATM withdrawal fees, you will be charged the following fees by other banks when you make ATM withdrawals with your Kuda Card from this Saturday, March 1, 2025: Fee for withdrawals at ATMs on any bank’s premises. For every withdrawal of N20,000 or less that you make at an ATM located on any bank’s premises, the bank that owns the ATM will charge you a fee of N100. For withdrawals that exceed N20,000 within a day, you’ll be charged an additional fee of N100 for every extra N20,000 or less that you withdraw.”

Opel said, “I’m deeply concerned about the increasing banking charges imposed on Nigerian citizens by the Central Bank of Nigeria and the government. It seems unfair that citizens are being charged multiple fees. The economic hardship is becoming unbearable for most Nigerians. If the current administration and CBN leadership cannot effectively manage the country’s financial system in a way that serves the citizens, perhaps it’s time for new leadership with fresh perspectives. The CBN Governor should understand that citizens are suffering from these policies. These excessive charges are particularly burdensome, given the limited funds many Nigerians have in their accounts.”

It is instructive to note that fintechs that have issued millions of cards in Nigeria, according to Statista, do not operate ATMs and do not stand to benefit from the N100 ATM transaction charges.

To avoid the ATM charges, the Central Bank suggested using only your bank’s ATM or other payment channels.

“You should withdraw money from your bank’s ATM (On-Us transaction) to avoid the transaction fees. Additionally, limiting your use of off-site ATMs is advisable to minimise the surcharge. Further, consumers can explore other payment channels such as mobile apps, POS devices for payments, etc.,” CBN said in its Frequently Asked Questions segment on the development.

Meanwhile, both the Trade Union Congress and the Socio-Economic Rights and Accountability Project have called for a suspension of the charges.

In a statement signed by the TUC president, Festus Osifo, and Secretary-General, Comrade Nuhu Toro, the union urged all well-meaning Nigerians to reject what it described as an exploitative policy and demand its immediate reversal.

“Our attention has been drawn to a circular from the CBN announcing an increase in ATM transaction fees, effective March 1, 2025. We say unequivocally: enough is enough. The Nigerian workers and the general public have endured relentless economic hardship under this administration.

“Every day brings a new burden—higher taxes, rising electricity tariffs, exorbitant call and data charges, and now, increased ATM fees. This government has failed to cushion the effects of its harsh economic policies, and the patience of Nigerians is wearing thin.”

On Sunday, SERAP called on President Bola Tinubu to direct the CBN to halt the charges.

“We’ve urged President Tinubu to direct the CBN to immediately suspend the ATM fee hike pending a court verdict on the matter. This is entirely consistent with the Nigerian Constitution 1999 [as amended], his oath of office, and promises to uphold the rule of law,” said the organisation that has sued CBN on the matter.

Travelers from non-EU countries who don’t need a visa to enter the UK will now need to complete pre-travel authorization from January 8.

The European Union’s ETIAS visa waiver, much delayed, is currently on track to roll out in 2025.

Before that, the UK will introduce its ETA system on January 8.

ETA, which stands for Electronic Travel Authorisation, is a new digital registration scheme for travelers who don’t need a visa to enter the UK.

While before they could hop on a plane and present themselves at passport control on landing, now, travelers will need to get pre-travel authorization to fly to the UK.

Here’s what to know about the new rules.

Who needs an ETA?

Anyone who doesn’t need a visa to travel to the UK will soon need an ETA — an “electronic travel authorization” which pre-clears you for entry to the country before travel. This is the UK equivalent of the United States’ ESTA — a mandatory, paid-for authorization to travel, with security clearance done in advance.

The scheme debuted to Gulf Cooperation Council nationals in 2024, and the next stage is to roll it out to other non-European travelers — including the six million travelers from the US, Canada and Australia who enter the UK each year. The full list of 48 states requiring the ETA is here.

Travelers from these countries will need an ETA to enter the UK from January 8. The only exception is EU citizens, who will need an ETA to enter the UK from April 2, 2025.

Citizens of these countries who are already resident in the UK do not need an ETA.

The scheme is for “short” visits to the UK of less than six months for tourism and business. There are a few other categories of ETA, including for short-term study and permitted paid engagements. These are listed on the UK government website.

Is it a visa?

Although some people are referring to it as a visa, it’s actually a visa waiver. Travelers whose citizenship means they need a visa to enter the UK will still need to apply for a visa. (They won’t, however, need to get the ETA on top of that.)

Countries work on reciprocity when it comes to immigration. When the United States introduced its ESTA visa waiver in 2009, it was inevitable that countries now subject to it would introduce their own similar schemes.

How do I get one?

The cost is a non-refundable £10 (just under $12.50), and you can apply through the official app listed on the UK government website, or directly online.

The apps — for iPhone and Android — boast of being quicker, with 10-minute processing times. Be sure to apply through official channels, rather than through third-party websites, which may charge extra fees, and are less likely to handle your data securely.

You will need to upload a photo of your passport, scan and photograph yourself as you apply, upload the photo, and answer various questions about your plans. Applying online takes around 20 minutes and you must complete the process in one go — there is no chance to save as you go.

A decision will normally be given within three days, though the government warns it could take longer. You are allowed to travel to the UK while waiting for your decision, if you need to visit urgently; however you must have made the application before you travel.

Note that having an ETA doesn’t guarantee entry to the UK. You must still go through passport control and Border Force officials still have the final say over whether you can enter the country.

How long will it be valid?

Validity lasts for two years and multiple entries — so you can visit as often as you please. However, note that it will be digitally linked to your passport — so if you get a new passport during those two years, it will no longer be valid and you must apply for a new one.