The House of Representatives has passed a resolution calling for the suspension of the increase in Automated Teller Machine (ATM) transaction charges and the stoppage of free ATM withdrawals for customers from other banks in Nigeria.

The motion moved by a member, Marcus Onobun, drew the attention of the House to a circular by the Central Bank of Nigeria to that effect.

Lawmakers were worried that this would impose additional financial burdens on Nigerians.

The House asked the CBN to suspend the policy pending proper engagement with the relevant committees on banking, finance, and financial institutions

The CBN had in February directed banks and other financial institutions to apply new ATM charges with effect from March 1, 2025.