Friday, August 29, 2014

NATCOMS rejects N65 ATM service charge



The National Association of Telecommunication Subscribers, (NATCOMS) has rejected the N65 per transaction charge on the fourth withdrawal of another bank using ATM saying the CBN governor was insensitive to the plight of consumers, and not in the interest of consumers of banking services across the country DigitalSENSE Business News gathered.

In a statement made available toDigitalSENSE Business News, the association lambasted the CBN governor saying that his action ‘to say the least is not consumer-centric’ and not in tandem with international best practices (IBP).  


The statement which was signed by the association’s president Mr Deolu Ogunbanjo observed that the directive does not portray him as a CBN Governor that will care for Consumers of banking services in Nigeria insisting that the welcome gift the new Central Bank Governor should be thinking of giving consumers of banking services in Nigeria is bank account portability as it is currently done in other developed economies.

“This ATM charge regime is not in line with international best practices (IBP) and is definitely not in the interest of consumers of banking services in Nigeria. The N65 ATM withdrawal charge is punitive, excessive profit-driven, exploitative and totally unacceptable as well as being a terrible welcome gift from the new Central Bank Governor to consumers of banking services in Nigeria. He should take a cue from his colleague in the Nigerian Communication Commission – Dr. Eugene Juwah who introduced mobile number portability in Nigeria’s Telecoms sector in line with international best practices”, he said.



Chukwudi Obi  

... Making SENSE of digital revolution!

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