CBN Raises ATM Card Fee to ₦1,500, Scraps Maintenance Charges

The Central Bank of Nigeria has increased the cost of issuing and replacing ATM debit and credit cards to ₦1,500, representing a 50 per cent rise from the previous ₦1,000 fee.

The new charge is part of the apex bank’s updated guide to bank charges for 2026, aimed at standardising fees and improving transparency across the financial system.

Under the revised framework, customers requesting new ATM cards or replacing lost, damaged, or expired ones will now pay ₦1,500, an increase of ₦500.

However, in a move expected to provide some relief, the CBN has scrapped the monthly maintenance fee previously charged on naira-denominated debit and credit cards.

The policy is part of broader reforms by the apex bank to streamline banking charges, promote digital transactions, and enhance consumer protection within Nigeria’s financial system.

The directive is expected to be implemented by banks nationwide, as the CBN continues efforts to balance cost recovery for financial institutions with affordability for customers.