Banks to eliminate N100 charge on ATM by December 17 2012

Banks have agreed to commence
effective implementation of zero
Automated Teller Machine (ATM)
charges Monday, December 17,
through out the country.
The agreement was sealed at the
fourth annual Bankers' committee
meeting held in Calabar this week end.
The Governor of the Central Bank of
Nigeria (CBN) and Chairman of the
Bankers' committee, Mallam Sanusi
Lamido Sanusi, who confirmed this
development said the CBN would
monitor the effective implementation of
the removal of bank charges associated
with the use of other banks' ATMs by
customers, adding that the delay all
along was to enable some banks to put
their house in order as far as
information technology is concern.
"We have agreed on a final date of
Monday 17 December, 2012 for the
kick-off, which every bank will take-off
the charges. We allowed some time for
banks that have not configured their IT
to do so and stop charging and
hopefully by 17th of December, you are
not going to have any customer pay
additional charges," Sanusi said.
He also informed that the banking sect
or lending to the agriculture sector has
increased remarkably from 1.5 per cent
of total industry portfolio to 3.5 per
cent in 2012.
At the Bankers' committee Retreat
titled: "Towards Economic Development
and Sustainable Transformation,"
Sanusi said banks have outlined
strategy to attain 7 per cent agric
sector lending by next year and 10 per
cent by 2017.
"With a vision for a better future for
Nigerians, the Bankers' Committee is
committed to a lead role as catalyst for
economic development, improving
access to finance by the unbanked and
under-banked population and growth of
the real sector.
Sent from my BlackBerry wireless device from MTN