Banks to increase ATM dispensing to N40,000

The Nigerian senate has instructed the Central Bank of Nigeria (CBN) to instruct Nigerian banks to increase the sum clients can pull back from computerized teller machines (ATMs) to N40,000 per exchange.

The limit that can be withdrawn presently is N20,000 and this is seen as unsatisfactory. In addition they have aslo requested that the banks suspend ATM card maintenance fee.

The legislative chamber has also directed its committees on banking and finance to conduct adequate investigation into the propriety of ATM card maintenance charges and to also invite the CBN governor, Godwin Emefiele to explain why the charges are allegedly are favour of the banks.

The goals of the senate was continuation of a movement supported by Gbenga Ashafa, representative speaking to Lagos east.

While on the movement, Ashafa said the CBN is getting to be “harsh” to the predicament of Nigerians.

Adding to the discussion on the movement, Ike Ekweremadu, appointee senate president, said the various charges by the banks are unsatisfactory.

“In the event that we have organizations in Nigeria, they should make a point to carry out their business to secure Nigerians,” Ekweremadu said.

“Banks ought to have conspicuous charges to tell clients what they are up against.”

On his part, Adeola Olamilekan, congressperson speaking to Lagos west, said the banks should quit deceiving Nigerians of their well deserved cash.

“I have quit utilizing ATM for exchanges,” Olamilekan said.

On his part, Senate President Bukola Saraki said the officials should dependably ensure the enthusiasm of the general population.

“This is a movement that addresses the lives of each Nigerian regardless of what party you have a place with or political alliance you may have and that is the reason we are here, to dependably guard and ensure the enthusiasm of our kin,” he said.

“We have to take a gander at approaches to guarantee that our goals go past simply the discussions — with the goal that whatever move we make will become effective.”

The movement was received by the senate after it was put to a voice vote by Saraki.