Under the framework, the regulator said the current account maintenance fee will be limited to “N0.5 per mille in 2026”, before being reduced to zero by 2027.
In addition, customers withdrawing from another bank’s ATM will pay N100 per N20,000 withdrawal at on-site locations, while off-site ATMs may attract an additional surcharge of up to N500 per transaction.
This, the CBN said, is subject to disclosure at the point of withdrawal.
According to the guide, electronic transfers of N5,000 and below will remain free, while transfers between N5,000 and N50,000 will attract a charge of N10, and transfers above N50,000 will cost N50.
“In line with the provisions of the extant Consumer Protection Regulations, financial institutions shall apply non-credit related charges on an account only to the extent of the balance in the account and defer any outstanding charge until the account is funded,” the document reads.
The apex bank also directed financial institutions to inform customers whenever charges are negotiable.
“Where a charge is stipulated as ‘negotiable’, financial institutions are required to draw the attention of customers to their rights to negotiate at the beginning of the transactions and subsequently, if the need arises,” the CBN said.
In addition, the circular said account reactivation and certain routine account services will remain free of charge, noting that any new fee, product, or service not listed in the guide must receive prior written approval from the central bank.
The CBN said the revised framework forms part of broader efforts to strengthen consumer protection, standardise banking practices, and ensure fairness in the pricing of financial services nationwide.
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