CBN Introduces New Guidelines to Cap Bank Fees

The Central Bank of Nigeria (CBN) unveiled draft guidelines on April 21, 2026, aimed at capping bank fees and mandating transparency across the banking system. Signed by Dr.

Rita Sike, Director of Financial Policy and Regulation Department, the guidelines are part of a broader effort to strengthen financial stability and promote digital financial services. The proposed framework introduces structured caps on various banking services, including electronic fund transfers and interbank transactions, with specific fees set at N10 for transfers below N5,000 and a maximum fee of N50 for transactions above N50,000.

Additionally, ATM withdrawal charges will be standardized at N100 per N20,000, with off-site withdrawals attracting a surcharge. The guidelines also tighten rules around lending transparency, requiring banks to disclose loan-related charges using an annual percentage rate (APR) framework.

Stakeholders are invited to submit feedback on the draft guidelines until May 8, 2026, before the final version replaces the 2020 guidelines, set to take effect on May 1, 2026.