Nigerian ATM Withdrawals Hit ₦36.34 Trillion Despite Higher Charges

Nigerian ATM withdrawals totaled ₦36.34 trillion in the first half of 2025, nearly three times the amount recorded in the same period in 2024. The Central Bank of Nigeria (CBN) introduced higher transaction charges to discourage cash usage, but data from CBN's quarterly statistics bulletin show that the trend of cash reliance persists.

Despite the revised ATM fee structure in March, withdrawals continued to rise steadily quarter by quarter. The increased fees did not seem to deter Nigerians from accessing cash, with transaction volumes sharply increasing.

The CBN aims to improve ATM services efficiency and accelerate deployment despite the fee hikes.