Connect with us


BIG STORY

ATMs Loaded With Cash As N100 Withdrawal Fee Begins

Published

on

Banks have stocked their ATMs with cash as the N100 transaction fee began on March 1.

The Central Bank announced the revised ATM transaction charges in a circular dated February 10, 2025. According to the new structure, withdrawals from a customer’s own bank ATMs will remain free of charge.

However, customers using ATMs of other banks will incur a N100 fee for withdrawals of N20,000 or less at on-site ATMs — those located within or affiliated with bank branches.

Off-site ATMs situated outside bank premises, like those at shopping malls, fuel stations, and public spaces, will attract an additional surcharge of up to N500 per transaction.

For international ATM withdrawals, charges will be based on cost recovery, meaning customers will pay the exact fee applied by the international acquirer. The CBN also clarified that withdrawals below N20,000 from another bank’s ATM will still attract the N100 fee per transaction.

During a Sunday afternoon check in Lagos (by The Punch), banks were seen loading their ATMs with cash to prevent their customers from using other banks’ ATMs and paying the extra charge.

At the Wema Bank branch at Barracks Bus Stop along Funsho Williams Avenue, the ATMs displayed a message to other banks’ cardholders that they would be charged “N107.50 inclusive in addition to the stated amount.”

All four ATMs at the branch were loaded with cash. When asked about the new charge, a security officer at the bank said, “There was nothing they could do, as it was from the authorities.”

At a First Bank branch nearby, the ATMs informed non-customers attempting withdrawals, “The amount charged on your account may include a fee of N100 in addition to the requested amount.”

ATMs at Access Bank, Ojuelegba asked customers to confirm if they were willing to pay the N100 access fee before proceeding.

A Union Bank cardholder attempting to withdraw N10,000 was prompted with, “Please confirm if you wish to continue, Amount withdrawn: N10,000, access fee: N100, transaction amount: N10,100.”

At Zenith Bank near Empire Bus Stop, the ATMs displayed, “The amount charged to your account will include a fee of N107.50.”

Guaranty Trust Bank (GTBank) provided a detailed breakdown, stating, “Dear valued customer, in line with CBN’s directive, there will be a charge of N100 and N7.50 VAT for cash withdrawals of other banks’ cards on GTCo ATMs.”

Some customers expressed frustration over the additional charges.

A security worker, Eze Chinonso, said, “This is another cost I must pay to use my money. The cost of data has gone up and other costs as well. Honestly, this is squeezing an already stressed pocket.”

On social media platform X, user Opel Nnenna (@opelnnenna3) shared an email from a fintech firm, which partly read, “In line with the CBN’s recent review of ATM withdrawal fees, you will be charged the following fees by other banks when you make ATM withdrawals with your Kuda Card from this Saturday, March 1, 2025: Fee for withdrawals at ATMs on any bank’s premises. For every withdrawal of N20,000 or less that you make at an ATM located on any bank’s premises, the bank that owns the ATM will charge you a fee of N100. For withdrawals that exceed N20,000 within a day, you’ll be charged an additional fee of N100 for every extra N20,000 or less that you withdraw.”

Opel added, “I’m deeply concerned about the increasing banking charges imposed on Nigerian citizens by the Central Bank of Nigeria and the government. It seems unfair that citizens are being charged multiple fees. The economic hardship is becoming unbearable for most Nigerians. If the current administration and CBN leadership cannot effectively manage the country’s financial system in a way that serves the citizens, perhaps it’s time for new leadership with fresh perspectives. The CBN Governor should understand that citizens are suffering from these policies. These excessive charges are particularly burdensome, given the limited funds many Nigerians have in their accounts.”

The CBN advised customers to avoid the fees by using only their bank’s ATMs or alternative payment methods. The bank suggested, “You should withdraw money from your bank’s ATM (On-Us transaction) to avoid the transaction fees. Additionally, limiting your use of off-site ATMs is advisable to minimise the surcharge. Further, consumers can explore other payment channels such as mobile apps, POS devices for payments, etc.”

Meanwhile, the Trade Union Congress (TUC) and the Socio-Economic Rights and Accountability Project (SERAP) have called for the suspension of the charges.

The TUC, in a statement signed by its president, Festus Osifo, and Secretary-General, Comrade Nuhu Toro, said, “Our attention has been drawn to a circular from the CBN announcing an increase in ATM transaction fees, effective March 1, 2025. We say unequivocally: enough is enough. The Nigerian workers and the general public have endured relentless economic hardship under this administration. Every day brings a new burden—higher taxes, rising electricity tariffs, exorbitant call and data charges, and now, increased ATM fees. This government has failed to cushion the effects of its harsh economic policies, and the patience of Nigerians is wearing thin.”

On Sunday, SERAP urged President Bola Tinubu to instruct the CBN to suspend the charges, saying, “We’ve urged President Tinubu to direct the CBN to immediately suspend the ATM fee hike pending a court verdict on the matter. This is entirely consistent with the Nigerian Constitution 1999 [as amended], his oath of office, and promises to uphold the rule of law.”

BIG STORY

How Yahoo Boy Tied, Dragged And Buried His Mother Alive For Ritual — EFCC

Published

on

The Economic and Financial Crimes Commission has raised fresh alarm over what it called the disturbing evolution of internet fraudsters into ritual killers, citing a recent case in which a young man allegedly buried his mother alive in a desperate quest for wealth. The Acting Zonal Director of the EFCC, Makurdi Zonal Directorate, ACE I Effa Imo Okim, revealed the details during a courtesy visit to the leadership of the Nigeria Union of Journalists in Benue State.

During the meeting, NUJ Chairman Bemdoo Ugber questioned whether the Commission had shifted its focus away from corrupt public office holders and was now concentrating more heavily on suspects involved in “Yahoo-Yahoo.” The EFCC Zonal Director dismissed the suggestion, insisting that the agency remains fully committed to tackling corruption at all levels while reinforcing that the intensified clampdown on internet fraudsters is informed by their growing involvement in violent crimes, including ritual killings.

Okim explained that many of the so-called “Yahoo boys” have turned to ritualists in search of supernatural powers to boost illicit financial gains, adding that such practices now include the sacrifice of close relatives. He warned that this pattern shows an alarming level of moral decline and criminal desperation among young people.

The EFCC official referred to a recent viral video that reportedly showed a young man killing his mother for ritual purposes. He said the case should prompt parents to closely monitor the behavioural changes and social associations of their children, particularly those in tertiary institutions, to prevent such tragic outcomes.

He narrated that the suspect joined a cult-like group shortly after entering a tertiary institution, and the group allegedly connected him with a ritualist who demanded that he bury his mother alive as a condition for acquiring wealth-producing powers. According to Okim, the young man returned home during school holidays and secretly prepared a grave before attacking his mother under the pretext of spending time with her.

Okim said the suspect allegedly struck his mother in the mouth with a heavy object, tied her up and dragged her into the grave before burying her alive in line with instructions he had received. He stated, “Not only did he tie her, he dragged her into the grave and covered her with soil — all in compliance with the demands of the ritualists.”

The EFCC official described the case as one of the most horrifying examples of the extent to which some internet fraudsters now go in their pursuit of quick riches. He warned that society is heading toward a troubling future if urgent steps are not taken to curb the trend.

The agency urged parents, community leaders and educational authorities to intensify efforts to monitor young people more closely, stressing that early detection of behavioural changes may help prevent similar tragedies.

Continue Reading

BIG STORY

‘You Belong In A Zoo’, Fayose Slams Obasanjo In Thank-You Message

Published

on

Former President Olusegun Obasanjo on Monday disclosed the insulting “Thank You” text message he received from former Ekiti State Governor Ayodele Fayose following his attendance at Fayose’s 65th birthday celebration in Lagos last week.

The message, which Obasanjo’s Special Assistant on Media, Kehinde Akinyemi, described as a “Thank You” note, was made available to journalists in Abeokuta. The communication reflected Fayose’s appreciation for Obasanjo’s presence at the event alongside criticism of what he referred to as the former president’s “irresponsible comments.”
According to the content of the message, Fayose stated that he refrained from responding to Obasanjo’s remarks during the ceremony so that “the whole world” would observe the difference “between a sane man and a mad man.”

Fayose also demanded that Obasanjo return the money he had sent to facilitate the former president’s attendance at the event. The “Thank You” note read, “Dear Baba Obasanjo, I trust this meets you well. Your coming to my birthday party, I appreciate it, except for your very irresponsible comments at your age. You went so low, but I am not surprised because someone once said you are supposed to be kept away in the zoo. Sincerely, that’s where you belong.”
The message continued, “I kept quiet or did not reply to you at the function so that the world would know the difference between a sane and a mad man. It is also obvious that you have lost your sanity—or should I say, this is the heightened stage of dementia.”

Fayose added, “Not to worry, Baba. I shall set the records straight in due course. Lastly, I shall appreciate it if you return my money since you publicly admitted you received it, but Dangote brought it back. Your leopard will never change its skin.”

In response, Obasanjo was quoted as saying, “Ayo, thanks for your ‘Thank You’ message, which undisguisedly revealed who and what you are, unchanged and unchangeable. Your money has been sent back through Foluso Adeagbo, who brought it, in the same bag as he delivered it, unopened by me.”

While addressing guests as the special guest of honour at the birthday celebration, Obasanjo recounted previous occasions where Fayose allegedly insulted him. The former president stated that Fayose had sought forgiveness multiple times but continued to display what he described as arrogance.

Obasanjo added that Fayose did not initially invite him directly to the birthday event. He explained that Fayose sent former Minister Osita Chidoka to approach him before later making a phone call, after which Obasanjo asked him to visit in person.

He said, “Some people called me and said, ‘We heard that you are going to attend Fayose’s 65th birthday. Have you forgotten how he abused you?’ But I said they should not worry. Irrespective of his character, he remains one of my children.”

Obasanjo continued, “But you are not among the best of my political children. Even to get me to attend this occasion, you could not approach me directly. You sent Osita Chidoka to sound me out. You later phoned me, and I said you could come see me at any time.”

He added, “Even then, you could not come immediately. You sent Foluso ahead to gauge my feelings, and you arrived about an hour later. When you came, you called your wife, and while on the phone, I said that both of you have not conducted yourselves well—Mo ni eyin mejeji kii somoluwabi [both of you are not Omoluwabi]. Your wife asked for forgiveness, and I said both of you are forgiven.”

Obasanjo stated that he did not want the lessons from their past conflicts to be forgotten and urged Fayose to take responsibility for previous actions. He also recalled warning Fayose during his time as governor against investing in a poultry project, noting that he considered the initiative fraudulent and ultimately unsuccessful.

According to a widely circulated online video of the event, the former president advised Fayose to seek genuine repentance and forgiveness from those he had wronged, and to prioritise integrity and humility as he continues in life.

 

Credit: The Punch

Continue Reading

BIG STORY

27-Year-Old Nigerian Man Kills Father, Stabs Two Sisters In US

Published

on

Police in New Orleans, United States, have arrested a 27-year-old Nigerian man, Chukwuebuka Eweni, in connection with a stabbing incident that resulted in the death of his father and injuries to two of his sisters.

Family members told WWL Louisiana, a local newspaper, that Eweni had a history of an undisclosed mental illness but had not displayed violent behaviour until last Tuesday. They said the evening began as an ordinary one before Eweni allegedly grabbed a knife and attacked his father, Samuel, and his two sisters. They added that they did not know what triggered the attack.

Samuel, who served as a professor of computer sciences at Southern University, New Orleans, was pronounced dead at the scene of the incident. The institution’s chancellor, Joseph Bouie, described Samuel as “a mentor and a guiding light” to many students.

One of Eweni’s sisters was discharged from the hospital after treatment, while the other remained under medical care as of last Wednesday but was also expected to survive. The injuries left both siblings receiving support from family and medical personnel.

Relatives said that after the stabbing, they learned that Eweni went to New Orleans East Hospital, where he often checked himself in for mental support, to seek help. The hospital, reportedly unaware of the crime, transferred him to another facility in Jefferson Parish as part of routine procedure.

Police tracked him to the second facility the following morning after securing an arrest warrant. Authorities stated that Eweni was wanted on one count of second-degree murder and two counts of attempted second-degree murder. Police added that he is currently undergoing evaluation at a medical facility.

Tributes for the deceased professor have continued to pour in across social media. One sympathiser, Emem Akpabio, wrote on Facebook, “Just got notified that my very first client, and loving father of three whom I obtained sole custody of his kids some 8 years ago, passed away and was found in his truck somewhere in Texas.”

Another Facebook user, who identified herself as an acquaintance, Josely Pueten, wrote, “I just received a phone call about him. He was one of our tenants here in Arlington. I never had the opportunity to meet him, but I know I got that call for a reason. I’m so sorry for his passing.”

A similar message was shared by another user, Aboukia Fessibay, who wrote, “Bode has gone too soon; so sad to see this of his passing to the great beyond. May God be with his children and the rest of his beloved family and friends.”
The incident adds to the growing number of tragic cases involving Nigerians overseas.

Continue Reading


 

 


 

 

 

 

Join Us On Facebook

Most Popular