See how new Central Bank of Nigeria rule on use of ATM will affect you from March 1, 2025, amidst economic downturn

By allcitynews.ng

That there is economic downturn is no longer news to anyone even many children are now beginning to understand the harsh economic conditions in the country.

But despite the hardship already being experienced, the new CBN law, by if allowed to sail through, will render most POS machine handlers unapproachable and jobless.

According to interpretation given to allcitynews.ng, by reliable source,
“As from March 1, You will be paying ₦100 charges if you use your ATM card to withdraw money from another bank ATM machine (in addition to their normal electronics, SMS, and N50 charges).

Secondly, If you choose to withdraw money with your ATM card using POS machine, CBN will charge you ₦400 for using POS, they will also charge you another N100 for collecting money above ₦10,000.

Then POS agent will still charge his/her own charges. All in all, you will be charged close to ₦800-₦1000 for withdrawing ₦20k. Don’t be annoyed and start fighting POS agent when this thing is done or starts in few days time. This is one of the new tax policy of our Federal Government.

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