The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to order the suspension of the recent increase in ATM withdrawal charges by commercial banks, arguing that it places an unfair burden on Nigerians already struggling with economic hardship.
The organization described the increased charges as exploitative, warning that they could worsen the financial difficulties faced by ordinary citizens. SERAP urged the Central Bank of Nigeria (CBN) to intervene and regulate banking fees to prevent financial institutions from imposing excessive costs on customers.
With inflation and the rising cost of living affecting millions of Nigerians, there has been growing public outrage over additional banking charges. The government has yet to respond to SERAP’s appeal, but pressure is mounting for a review of bank fees and other financial policies affecting the public.