The Central Bank of Nigeria (CBN) has reviewed the transaction fees for Automated Teller Machine (ATM) services, with new N100 charges for N20,000 withdrawal, set to take effect from March 1, 2025. In a circular signed by John Onojah, the acting director of the Financial Policy and Regulation Department, the CBN stated that the fee adjustment aims to address the rising operational costs and enhance efficiency within the banking sector. The last time the ATM transaction fees were revised was in 2019 when the CBN…
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Tinubu Appoints Yemi Cardoso CBN Governor
President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate. In a statement signed by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, “This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria. “The…
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