The Socio-Economic Rights and Accountability Project SERAP has given the Central Bank of Nigeria CBN a 48-hour ultimatum to reverse the newly announced hike in Automated Teller Machine ATM transaction fees, calling it “unlawful, unfair, unreasonable, and unjust.”
In an open letter dated February 15, 2025, signed by SERAP Deputy Director Kolawole Oluwadare, the organisation urged CBN Governor Olayemi Cardoso to immediately reverse the policy.
The organisation argued that it would worsen the financial hardship faced by Nigerians, particularly low-income earners.
Details of this letter were issued in a press release titled, “SERAP gives CBN 48 hours to withdraw ‘unlawful, unfair hike in ATM transaction,” on Sunday.
