The Central Bank of Nigeria (CBN) has increased the one-time fee for ATM card issuance and replacement to ₦1,500.
This new rate is part of the 2026 "Guide to Charges by Banks and Other Financial Institutions" and represents a 50% increase from the previous ₦1,000 fee.
Key Changes in Banking Charges
- Card Issuance/Replacement: ₦1,500 for standard debit and credit cards.
- Monthly Maintenance Fee: Scrapped for naira-denominated cards (previously ₦50), saving customers approximately ₦600 annually.
- Foreign Currency Cards: Annual maintenance fee remains at $10.
- Virtual Cards: These remain free to issue.
- PoS Transactions: Customers will no longer be charged for paying at merchant Point of Sale (PoS) terminals; merchants now bear the 0.5% service charge
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