Reintroduction Of N65 ATM Charge ‘Satanic Extortion’ – NANS

National Association of Nigerian Students, NANS, has condemned the re-introduction of the Automatic Teller Machine (ATM) charge by the Central Bank of Nigeria.

The CBN had announced a charge of N65 to be paid by bank customers when they use the ATMs of banks other than their own to make withdrawals. The charge will be deducted after the third withdrawal on such ATMS.

A charge of N100 for ATM withdrawals was scrapped by the former CBN Governor, Lamido Sanusi, to reduce crowd inside the banking halls.

In a statement signed by the Public Relations Officer of NANS, South-West, Jeremiah Olatinwo, the association called the reintroduction of the charge "satanic extortion", saying it negated the promise to empower Nigerians.

The statement read in part, "The bourgeois Nigerian government has opened another episode of unlawful extortion of the proletariat, an act which is motivated by selfish and personal gains.

"The National Association of Nigerian Students wishes to express its displeasure with the recent unfriendly policies of the apex financial institution.

"We want to unequivocally state our opposition to the baseless charge of N65 on interbank ATM withdrawals, which took effect on September 1 after two years' proscription".

NANS demanded the reversal of the charge, adding that it would mobilise students against the move if nothing was done.

"We demand the immediate stoppage of the N65 charge for interbank ATM withdrawals. We like to state here that failure to adhere to or give positive response to our demand shall result in affirmative action by Nigerian students", NANS said.