The former Senator representing Kaduna Central Senatorial District, Shehu Sani, has condemned the scrapping of free Automated Teller Machine withdrawals for other banks’ customers by the Central Bnak of Nigeria.

It was reported that the apex bank, on Tuesday, announced the scrapping of the three free monthly withdrawals previously allowed for customers using other banks’ATMs.

The circular, signed by the Acting Director of the Financial Policy and Regulation Department at the CBN, John Onojah, is expected to accelerate the deployment of ATMs across the country while ensuring that financial institutions apply appropriate charges for the service.

This means that customers using another bank’s ATM will now be charged N100 per N20,000 withdrawal when using ATMs located within bank premises.

For withdrawals made at off-site ATMs, a charge of N100 per N20,000 withdrawal will apply, along with a surcharge of up to N500.

He said: “If the CBN continue to increase ATM charges, people will return to the era of physically entering the Bank to cash their cheques.”