“Why is the Central Bank having this?” – Filmmaker Jade Osiberu criticises banks for limiting ATM withdrawal amounts.

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Jade Osiberu, an award-winning filmmaker, has inquired as to what the Central Bank is doing about banks restricting ATM withdrawals to N10,000.

ATMs will withdraw up to N20,000 in a single transaction, but some banks have opted to limit theirs to N10,000 per transaction, resulting in additional fees for consumers who use their devices.

 

In a tweet posted on her handle, Ms. Osiberu is asking why the apex bank is allowing such. Her tweet reads;

”Nigerian Banks and their fraudulent behavior. ATMs have a capacity of N20k per withdrawal but you limit to N10k so you can charge N35 per withdrawal, on a platform that’s suppose to be a low cost option for servicing your customers. Why is @cenbank  allowing this?”

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