WATCH THE VIDEO HERE The Central Bank of Nigeria (CBN) says its recently announced policy imposing charges on cash withdrawal by customers from Automated Teller Machines (ATMs) of banks other than theirs, is mutually beneficial to both the banks and customers. CBN’s Acting Director, Financial Policy and Regulation Department, John Onojah, stated this on Channels Television’s Sunrise programme on Saturday. He said that with the implementation of the new policy, the complaints of shortage of cash at bank ATMs will be a thing of the past, while banks will be helped to recover costs on the other hand. “We have gotten the commitment of the banks to ensure that you don’t go to the ATMs and be told that there is no money. We have ensured that when you get to the bank, at least we have set a minimum of N20,000 that you can withdraw at your own wish,” Onojah said.
ATM cash withdrawals: New policy mutually beneficial to banks and customers – CBN
