Central Bank of Nigeria (CBN) don increase the price wey dem dey charge to get and replace ATM debit and credit cards by 50 percent, as dem raise am from ₦1,000 go ₦1,500.
Apex Bank cancel the ₦50 monthly maintenance fee wey dem dey before charge for Naira debit and credit cards.
But customers wey dey use foreign currency cards still go dey pay $10 yearly maintenance fee.
Dem list these changes for CBN 2026 draft wey talk about Guide to Charges for Banks and Other Financial Institutions (OFIs).
Under the new rules, CBN also talk say cardholders no go dey pay again for transactions wey dem do for Point-of-Sale (PoS) terminals.
Instead, merchants go carry the Merchant Service Charge (MSC), wey be 0.5% per transaction, but e get cap of ₦10,000.
According to the apex bank, all card payments wey customers make for shop must be free for customers, no matter the payment method or technology wey dem use.
CBN explain say this review na part of their effort to make Nigeria financial system stronger, encourage people use electronic payment channels more, and support financial inclusion.
Dem add say the updated guide don increase the kind financial services wey dey available, encourage innovation for banking products, and introduce better monitoring and accountability for financial institutions.
The move still show say CBN wan allow new players enter financial system while dem dey try reduce cost for small and low-value digital transactions.
