Banks To Start Zero ATM Charges On Dec 17.

Banks have agreed to commence effective implementation of zero Automated Teller Machine (ATM) charges Monday, December 17, through out the country.

The agreement was sealed at the fourth annual Bankers’ committee meeting held in Calabar this week end. The Governor of the Central Bank of Nigeria (CBN) and Chairman of the Bankers’ committee, Mallam Sanusi Lamido Sanusi, who confirmed this development said the CBN would monitor the effective implementation of the removal of bank charges associated with the use of other banks’ ATMs by customers, adding that the delay all along was to enable some banks to put their house in order as far as information technology is concern.

“We have agreed on a final date of Monday 17 December, 2012 for the kick-off, which every bank will take-off the charges. We allowed some time for banks that have not configured their IT to do so and stop charging and hopefully by 17th of December, you are not going to have any customer pay additional charges,” Sanusi said.

He also informed that the banking sect or lending to the agriculture sector has increased remarkably from 1.5 per cent of total industry portfolio to 3.5 per cent in 2012.

At the Bankers’ committee Retreat titled: “Towards Economic Development and Sustainable Transformation,” Sanusi said banks have outlined strategy to attain 7 per cent agric sector lending by next year and 10 per cent by 2017.

“With a vision for a better future for Nigerians, the Bankers’ Committee is committed to a lead role as catalyst for economic development, improving access to finance by the unbanked and under-banked population and growth of the real sector.