The move by the CBN to reintroduce inter bank ATM withdrawals charges more than two years after same was discarded by the former Governor Mallam Sanusi lamido Sanusi is not only in bad faith, but draconian and a clear manifestation of the insensitivity of our policy crafters. It is tantamount to institutional exploitation of hapless Nigerians. The decision is ill-advised, ill-motivated and opportunistic. It is anti-people and might be part of the conspiracy of the banks to continue milking the banking public. The CBN should rescind the decision in the public interest, equity and fairness. It is an attempt by the CBN in cahoots with these shylocks masquarading as bankers to discourage low income earners from saving in the banks considering that the CBN has not taught it necessary to compel the banks to allow for across-the-counter-withdrawals of less than 1 hundred thousand thereby entrenching the anti-poor proclivities that most capitalist and right-wing economies represent. I know for sure that there are account holders who would trade the guaranteed arbitrary and fixed monthly charges on ATM usage for the so-called inconvenience that across the counter withdrawal entails but will they be willing to allow that group access to their money from the counter whenever they deem it necessary? Why I have to be charged in the first place by my bank for withdrawing my money beggars belief indeed.
Posted on: Tue, 26 Aug 2014 09:03:34 +0000
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