Nigerian ATM Withdrawals Soar by 198% to N36 Trillion Despite Higher Charges: CBN Data
The Central Bank of Nigeria reported a significant increase in ATM withdrawals to N36.34 trillion in the first half of 2025, nearly tripling the amount from the same period in 2024. This surge, representing a 197.66% year-on-year rise, occurred even after the CBN implemented measures to discourage excess cash usage by tightening monetary policies and revising fees.
The data revealed a growth rate of 72.98% in transaction volume, with 858.80 million ATM withdrawals recorded in the first half of 2025. The CBN attributed the rise in costs to the need for enhanced efficiency in ATM operations.
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