These are the following feeble and senseless reasons Mr. Emefiele made for the Charges

(1) At first he talked about how customers have been abusing the free ‘opportunity’ by making numerous withdrawals beyond what they ordinarily make.
Pls Since when did ATM machine became a Free "gaming machine" or I am missing something? Also who enjoys withdrawing money better than depositing and from the last time I checked I am being charged for my ATM monthly.
Have any Nigerian ever been able to withdraw more than they deposited? Who is trying to confuse who?

(2) Secondly, Mr. Godwin said the banks have over the past months bear the cost of 65 naira on every withdrawal made on other ATMs as payment to the issuer (the paying bank)
So Banks can now forget their responsibility of making sure their ATMs are functioning cos if there is "network failure" "Unable to dispense cash" or "Power failure" in any of their branches the customer must pay for it by using another Bank's ATM and also again From the last time I checked I am being charged for my ATM monthly.
So it this a deliberate act to victimize the Nigerian masses.


(3) Thirdly, the CBN Governor feels if ATM transactions continue to be free, it will contravene the cashless policy.
The last time I checked there is still a withdrawal limit on ATM transactions, so this excuse of "contravene the cashless policy" is ill-thought, once a customer reaches the limit then it is good day. And the fact that its what he "Feels" not what empirical data proves then I think Nigerians are in for a Rough ride cos its a matter of what Mr. Emefiele "Feels" and not what CBN "Knows".



Summarized from http://saharareporters.com/2014/08/23/madness-cbn-n65-atm-charges

When did Bank bear the cost of our operation, now he is indirectly telling us that ATM operation was sudsidized that he his/want to remove the subsiding. What is the subsidy from Petroleum used for? Please make una no run us dry o.. Removal of subsidy from every sector when will we enjoy freebis in naija. Chai ... Dier is God o...

Thunder fire his blockus

#65 per withdrawal after the first 3 withdrawals in a month is reasonable please.

eph12: #65 per withdrawal after the first 3 withdrawals in a month is reasonable please.

Pls what makes it reasonable? Before now have the banks not been declaring huge profits every quarter?
The N65 Naira is only to make the banks Richer and most probable create an avenue for the settlement of the Governor. Simple.