Below is the new Central Bank of Nigeria (CBN) approved charges for all commercial banks in Nigeria

Complete List Of Approved Bank Charges in Nigeria By CBN

1. As a result of the new CBN guide, transactions below ₦5,000 would incur a maximum fee of ₦10; transfers between ₦5000 and ₦50,000 will attract a charge of ₦25; and transfers beyond ₦50,000 will receive a charge of ₦50.

2. The present account card maintenance cost has been eliminated because the accounts already have an account maintenance fee. Savings accounts will now be charged a card maintenance cost of ₦50 every quarter, rather than ₦50 every month.

3. The annual card maintenance cost for cards denominated in foreign currency (FCY) has been decreased from $20 to $10.

4. After the third withdrawal within a month, ATM fees are lowered to ₦35 from ₦65.

5. The charge for a hardware token will be based on cost recovery and will be capped at ₦2,500, down from the previous maximum charge of ₦3,500.

6. Fees for required SMS alerts will be based on a cost-recovery model, with a maximum price of ₦4 in place previously.

7. Payment of bills via e-channels will incur a maximum charge of ₦500, based on 0.75 percent of the transaction value up to ₦1,200.

You may also want to read How To Easily Access CBN AGSMEIS SME Loan

Full List Of Approved Bank Charges in Nigeria By CBN 2022

Below is the full list of approved bank charges in Nigeria by Central Bank of Nigeria (CBN):


Hardware Token — There is a maximum charge of ₦2,500 for cost recovery.

There is no payment for the Software Token – One-Time Password (OTP). Charges will be based on a cost recovery basis if the OTP is delivered to the customer through SMS.

Replacement of hardware tokens — Cost recovery is limited to ₦2,500. Only in the event of physical damage, token loss, or replacement after expiration will the customer be charged.

Payment of bills (including payments made through other E-channels) – Negotiable and limited to ₦500 per beneficiary payable by the sender.


Exclusively applicable to current accounts for customer-initiated debit transactions to third parties and debit transfers/lodgments to the customer’s account in some other bank. It should be noted that CAMF does not apply to Savings Accounts.

The charge is negotiable, but it cannot exceed ₦1 per mille.


The fees accrued for electronic fund transfers include:

Below ₦5,000 – ₦10

₦5,001 – ₦50,000 – ₦25

Above ₦50,000 – ₦50


Foreign Currency Debit/Credit Cards — $10 per year (or its equivalent)

Naira Debit/Credit Cards:

Cards linked to the current account- No charge

A maximum of ₦50 per quarter is charged for cards linked to savings accounts.


Fee for issuing a credit card — ₦1,000 (one-off charge). Regardless of the type of card used, the charge is the same (i.e. regular or premium card).

Fee for reissuing for lost or damaged cards (at the customer’s request) — ₦1,000 (one-off charge). Regardless of the type of card used, the charge is the same (i.e. regular or premium card)

Renewal Fee — ₦1,000 (when existing cards expire) (one-off charge). Regardless of the type of card used, the

 charge is the same (i.e. regular or premium card)

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