CBN Increases ATM Card Fee to N1,500, Removes Maintenance Charges
The Central Bank of Nigeria (CBN) has raised the cost of issuing and replacing ATM, debit, and credit cards by 50 percent, moving the fee from ₦1,000 to ₦1,500.At the same time, the apex bank has scrapped the monthly maintenance charge of ₦50 previously applied to naira-denominated debit and credit cards, which also included a 7.5 percent Value Added Tax. However, holders of foreign currency cards will still pay an annual maintenance fee of $10.These changes were outlined in the CBN’s exposure draft of the Guide to Charges by Banks and Other Financial Institutions in Nigeria 2026.The regulator also reaffirmed that charges related to Point of Sale (PoS) transactions will be borne by merchants rather than customers. According to the draft, standard ATM card issuance or replacemen...









