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Banks begin implementation of new ATM transaction fee

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By Kayode Sanni-Arewa

Banks have commenced implementation of the new Automated Teller Machine (ATM) transaction fee charge on customers following the Central Bank of Nigeria (CBN’s) directive.

The News Agency of Nigeria (NAN) correspondent who monitored some banks’ ATM gallery in Abuja and environs on Sunday, reports that some customers were lamenting about the increase.

All the banks’ ATM visited had monies loaded in them.

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Mr Luke Abudu, a customer seen at First Bank along Nyanya-Jikwoyi road, said the implementation would only affect the poor masses who were struggling to make a living.

Abudu said the move would discourage customers from lodging monies in the banks.

”I came to withdraw N20,000 but I found out that I was charged N100 for the withdrawal.

‘”This is too much for a small business owner like me,” he said.

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Another customer, Mrs Victoria Adejo, seen at Zenith Bank, Mararaba branch said that withdrawal from Point of Sale (PoS) agent was now cheaper than using an ATM.

”It is unfortunate that our government formulate policies without feeling the pulse of the people.

”I read that the CBN said the decision is in response to rising cost and to improve efficiency of ATM services but banks still bill us for service charge.

”They (banks) declare profit in billions and trillions from our monies and the CBN does not consider that.

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”This is not good enough at all, ” she said.

Mr Nurudeen Ehimotor, a customer at Guaranty Trust Bank (GTB), Asokoro, said he was at the bank to use the ATM due to the bank’s poor online network.

”I came to use ATM because I tried to transfer money from my bank using USSD since yesterday but it didn’t go through.

”I have an issue with my app, so I have been using USSD codes for my transfer.

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”I think they (the bank’s) are trying to make people use ATM now for them to make more money,” he said.

Ehimotor appealed to banks to reduce incessant charges on customers account.

NAN reports that the CBN had on Feb. 10, released a circular to all banks and other financial institutions to apply the fees with effect from March 1.

CBN in the circular with title ‘Review of ATM transaction fees’ said the move was in response to rising cost and the need to improve efficiency of ATM services in the banking industry.

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On-Us (customers withdrawing at the ATM of the customer’s financial institution) in Nigeria, no charge.

”Not-on-Us ( withdrawal from another institution’s ATM) in Nigeria; On-site-ATMs: A charge of N100 per N20,000 withdrawal.

”Off-site ATMs: A charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal.

”The income which is an income of the ATM acquirer/deployer, shall be disclosed at point of withdrawal to the consumer,” it said.

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Meanwhile, banks had informed their customers through various electronic mails (e-mails) of the increase.

GTB told its customers in addition to the ATM transaction fee, that the free monthly withdrawals usually enjoyed by them would no longer be applied.

”Please note that the three free monthly withdrawals at other banks’ ATMs (for GTBank customers) and GTBank ATMs ( for other bank customers) will no longer apply,” the bank said.

Also, Access Bank in their official X handle told customers that ”All Access Cards now work seamlessly across all ATMs and POS machines, so you can make payments without hassle”.

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Naira Nosedives Against Dollar

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By Kayode Sanni-Arewa

On Monday The Naira depreciated to N1,629 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,629 per dollar from N1,600 per dollar last week Friday, indicating N29 depreciation for the naira.

Likewise, the naira depreciated to N1, 570 per dollar in the parallel market from N1,565 per dollar last weekend. Consequently, the margin between the parallel market and NFEM rate widened to N59 per dollar from N35 per dollar last weekend.

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2Baba’s Lover Natasha Osawaru Fired As Edo Assembly Minority Leader

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By Kayode Sanni-Arewa

Natasha Osawaru, the lover of singer 2Face Idibia, has been removed as the minority leader of the Edo state house of assembly.

Osawaru is a member of the Peoples Democratic Party (PDP) and was a lawmaker representing the Egor constituency.

Her removal follows a shift in the party’s majority status after four PDP lawmakers defected to the All Progressives Congress (APC), giving the latter majority control.

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The lawmaker was removed alongside Charity Aiguobarueghian, the former majority leader and Yekini Idaiye, who served as chief whip of the house.

Blessing Agbebaku and Maria Edeko, who are also members of the PDP, however, retained their positions as the speaker and the deputy speaker respectively

The development followed a letter from Jarret Tenebe, acting chairman of the APC in Edo state, notifying the assembly of the party’s new majority status.

In response, the speaker announced the appointment of APC members, including Ibhamawu Aigbokhan from Esan west as majority leader, Addeh Isibor from Esan north-east I as deputy leader and Lecky Hussein Mustapha from Etsako west I as chief whip.

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Agbebaku said PDP leadership in the state would submit a list of nominees for the remaining principal offices. He added that his position as speaker and that of the deputy speaker may be reviewed.

Natasha has been in the spotlight since 2Baba announced his split from Annie Idibia in January and confirmed his relationship with her a few days later.They are both engaged at the moment.

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DHQ: Military operation rescued ex-NYSC DG, no ransom paid

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The Defence Headquarters has dismissed claims that senior military officers contributed money to secure the release of a former Director General of the National Youth Service Corps, Brigadier General Maharazu Tsiga (retd).

The DHQ insisted that his freedom was achieved through sustained military operations and intelligence efforts.

Tsiga was abducted on February 6, 2025, in Tsiga, the Kafur District of Bakori Local Government Area, Katsina State.

A trending WhatsApp message by Brigadier General Ismaila Abdullahi claimed that some retired and serving military officers contributed money to pay the ransom demanded by Tsiga’s abductors.

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The message further stated that the funds were paid into his account which was provided by Tsiga’s son, Kamal and thanked everyone who contributed.

However, in a statement issued on Monday, the Director of Defence Information, Brigadier General Tukur Gusau, described the claims by Abdullahi as “misleading” and “a calculated attempt to undermine the military’s dedicated efforts” to combat terrorism and rescue abducted citizens.

Gusau said troops of 17 Brigade responded within hours and launched a series of search-and-rescue operations under Operation Fansan Yamma, in conjunction with air components.

According to him, troops combed several hideouts across Katsina and Zamfara states, including Jeka, Areda, Zango, Ruwan Lafiya, Mununu, and Pauwa Hills.

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He added that though no direct contact was made with the abductors initially, the operations led to the abandonment of rustled animals and captives by fleeing terrorists.

Gusau said, “It is important to note that the unfortunate abduction of the former DG of NYSC occurred in the wee hours of 6 February 2025, in Tsiga, Kafur District of Bakori Local Government Area in Katsina State.

” Immediately, troops of 17 Brigade were alerted; they responded to the situation around 0300 hours the same day and, in a commendable show of professionalism, swiftly went on pursuit in conjunction with the Air Component of Operation Fansan Yamma.

“These combined efforts led to troops combing the assailants’/bandits’ hideouts within Jeka, Areda, and Zango, all in Kankara Local Government Area, in search of the former DG. The operation extended to Ruwan Lafiya, Mununu, Matallawa and Bakkai in Faskari Local Government Area.

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“Although no direct contact was made with the abductors, the troops successfully pressured the criminals, who abandoned rustled animals and some captives in their hasty retreat.

“The troops nevertheless sustained the pursuit of the terrorists with unwavering determination, despite facing difficulties due to challenging terrain.”
Gusau said intelligence-led air raids on Dunya Hill—a known stronghold of terrorists—disrupted the kidnappers and enabled the escape of several captives.

He noted that while Tsiga was unable to flee due to health complications, another captive, Barau Garba, a local teacher, was rescued and reunited with his family.

He further disclosed that 84 kidnapped victims were freed in a separate assault on Pauwa Hills and surrounding areas, with several bandits neutralised and three soldiers sustaining injuries.

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He said, “On February 8, leveraging credible intelligence, troops intensified their manhunt for the abductors and conducted dawn attacks at Yankuzo and Gidan Dankaka in Tsafe Local Government Area of Zamfara State where terrorist kingpin Ado Aliero hibernates. More so, intelligence confirmed that he had links with the abductors. Unfortunately, the operations did not result in locating the terrorists.

“However, subsequent air operations at Dunya Hill, a suspected bandit stronghold where General Tsiga was held, disrupted the terrorists, leading to the escape of several captives. Regrettably, the former DG was unable to escape due to health concerns. One of the captives, Barau Garba, a teacher at Government Secondary School in Tsiga and who was with General Tsiga, was rescued by troops, and he shared his experience via the attached video.

“Barau has since been reunited with his family in Tsiga town. In another instance, troops assaulted Pauwa Hills and Matallawa area of Kankara Local Government Area in search of Brigadier General Tsiga.

“However, they were only able to rescue 84 kidnapped victims from the area without locating him. In the process, several terrorists/bandits were neutralised, while three personnel sustained gunshot wounds.

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“Since Brigadier General Tsiga’s abduction on 7 February 2025, troops have remained relentless in their pursuit, conducting both air and ground operations within Danmusa, Kankara and Faskari Local Government Areas, where he was supposedly held captive at different times, and these operations kept pressure on the abductors.

“It is thus only fair to recognise the significant sacrifices made by these troops who have worked day and night, often at great risk to their own lives in their search of the senior officer. The disparaging online is, therefore, nothing but presumably an act of mischief which is calculated at undermining the dedicated efforts of a military effort to eradicate terrorists/bandits and other criminal elements from the North West region.’

DHQ emphasised that a mix of kinetic and non-kinetic strategies facilitated the release of the senior officer, reiterating that no ransom was paid.

He said, “It is noteworthy to add that the military operations comprising both kinetic and non-kinetic strategies facilitated the rescue of General Tsiga as his life is invaluable and anything that needed to be done to ensure he was safe was adopted in ensuring a successful search and rescue effort.

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“Troops will continue to support all efforts in ensuring peace and security across the country. The general public is therefore encouraged to continue supporting troops by providing credible intelligence to assist in this regard.”

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