Activist asks court to halt N65 ATM charges

A rights activist, Timi Frank, has asked the Federal High Court in Abuja to restrain the Central Bank of Nigeria from further implementing its reintroduced N65 charges relating to cash withdrawal from the Automated Teller Machines in the country. The new CBN governor, Godwin Emefiele, had on August 13 announced that a customer, who makes cash withdrawals from ATM of banks other than his or her banker’s ATM would be charged N65 at the fourth withdrawal in a month. The policy took effect nationwide on September 1. In his suit marked filed on September 18 and marked FHC/ABJ/CS/659/2014, the plaintiff contends that the reintroduction of ATM charges is “retrogressive and a negation of the cashless policy currently being propagated by the CBN.

” Emefiele and the CBN are the defendants in the suit. The plaintiff, through his lawyer, lawyer, Olugbenga Adeyemi, contends that the policy is not only discriminatory against the poor, it is capable of discouraging savings on the part of the low income earners. Adeyemi argues the policy is alien to developed societies as no customer is charged any fee in a country like the United Kingdom for using the ATM of other banks. The plaintiff seeks “a perpetual injunction restraining the defendants and their agents” from engaging in further implementation and deduction of the N65 charges and an order setting aside the directive reintroducing the charges. He also seeks a declaration that the directive of the defendants for the reintroduction of ATM charges for cash withdrawals made on others’ ATMs in the amount of N65 from the 4th withdrawal in a month is inhumane, callous, unconscionable, illegal, null and void. The plaintiff is also praying the court for a declaration that the reintroduction of the N65 charges “is retrogressive, anti people, exploitative and obnoxious,” and a declaration that it negates the cashless policy of the CBN. No date is set yet for the hearing of the case.