Award-winning filmmaker, Jade Osiberu, has decried the “fraudulent behaviour” of Nigerian banks that limit the withdrawal amounts at their ATMs.
Usually, ATMs can dispense as much as N20,000 in a single withdrawal but some banks have restricted the maximum withdrawal amount to N10,000 in order to gain extra charges from customers who make multiple withdrawals from their machines.
Taking to Twitter, Jade called out the banks and questioned why the Central Bank is permitting their latest money-making strategy.
“Nigerian Banks and their fraudulent behavior. ATMs have a capacity of N20k per withdrawal but you limit to N10k so you can charge N35 per withdrawal, on a platform that’s suppose to be a low cost option for servicing your customers. Why is @cenbank allowing this?”