News

SERAP To Court: Stop CBN From ‘Implementing ‘Unlawful, Unjust ATM Fee Hike’

Published

5 months ago

February 23, 2025

Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to reverse the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine (ATM) transaction fees.”

The CBN recently announced that ATM withdrawals made at a machine owned by a bank but outside its branch premises will now attract a charge of N100 per N20,000 withdrawn. ATM withdrawals at shopping centres, airports or standalone cash points, will incur a N100 fee plus a surcharge of up to N500 per N20,000 withdrawal.

In the suit number FHC/L/CS/344/2025 filed last Friday at the Federal High Court, Lagos, SERAP is asking the court to determine “whether the decision by the CBN to increase ATM transaction fees is not arbitrary, unfair, unreasonable, and contrary to the provisions of the Federal Competition and Consumer Protection Act 2018.”

SERAP is asking the court for “a declaration that the decision by the CBN to increase ATM transaction fees is arbitrary, unfair, unreasonable and contrary to the provisions of sections 1(c) and (d), 104, 105 and 127(1) of the Federal Competition and Consumer Protection Act 2018, which is binding on the CBN.”

SERAP is seeking “an order of interim injunction restraining the CBN, its officers, agents, associates or any other persons acting on its directive or instructions from enforcing and giving effect to the decision, pending the hearing and determination of the motion on notice for an order of interlocutory injunction filed in this suit.”

In the suit, SERAP is arguing that: “The increase cannot be justified under the Nigerian Constitution 1999 [as amended], the CBN Act, Federal Competition and Consumer Protection Act, and the country’s international human rights obligations.”

SERAP is also arguing that, “The increase creates a two-tiered financial system that discriminates against poor Nigerians who may not be able to afford or pay the increased ATM fees.”

According to SERAP, “The patently unlawful, unfair, unreasonable and unjust increase in ATM transaction fees also inherently contributes to violations of the human rights of socially and economically Nigerians.”

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Andrew Nwankwo, read in part: “The CBN is compromising its stated mission to advance the management of the country’s economy, and ultimately, sustainable development.”

“The CBN is also failing to comply with the Nigerian Constitution, the Federal Competition and Consumer Protection Act and the country’s international human rights obligations in the exercise of its statutory powers and functions.”

“The increase in ATM transaction fees ought to have been shouldered by wealthy banks and their shareholders, not the general public.”

“CBN policies should not be skewed against poor Nigerians and heavily in favour of banks that continue to declare trillions of naira in profits mostly at the expense of their customers. The increase in ATM transaction fees would inflict misery on poor Nigerians and contribute to human rights abuses.”

“Imposing exorbitant ATM transaction fees on socially and economically vulnerable Nigerians at a time several Nigerian banks are declaring trillions of naira in profits yearly is manifestly unfair, unreasonable and unjust.”

“The CBN through a Circular to all banks and other financial institutions dated February 10 2025 stated that it has reviewed and increased the ATM transaction fees prescribed in section 10(7) of the CBN Guide to Charges by Bank, Other Financial and Non-Bank Financial Institutions 2020.”

“Section 1(c)(d) of the Federal Competition and Consumer Protection Act, 2018 provides that the objectives of the Act are to ‘protect and promote the interests and welfare of consumers’ and ‘prohibit restrictive or unfair business practices’ such as the exorbitant and unreasonable increase in ATM transaction fees by the CBN.”

“The provisions of the Federal Competition and Consumer Protection Act are directly binding on the CBN, as the provisions constrain the exercise of the statutory powers and functions of the institution.”

“Section 2(1) of the Act provides that its provisions ‘apply to all undertakings [such as the CBN] and scope of application to all commercial activities within Nigeria.”

“Section 2(2) provides that: ‘This Act is binding upon- (a) a body corporate or agency of the Government; (b) a body corporate; (c) all commercial activities aimed at making profit and geared towards the satisfaction of demand from the public.’”

“According to section 70(1) of the Act, ‘For the purpose of this Act, an undertaking [such as the CBN] is considered to be in a dominant position if it is able to act without taking account of the reaction of its customers or consumers.’”

“The Act prohibits abuse of dominant position by the CBN including charging excessive ATM transaction fees to the detriment of consumers.”

“Section 104 of the of the Act asserts the supremacy of the Act over ‘the provisions of any other law’, such as the CBN Act. The only exception to the provision is the Nigerian Constitution 1999 [as amended].”

“Section 127(1) of the Act also prohibits the CBN from making any policy or providing “any services at a price that is manifestly unfair, unreasonable or unjust.”

SERAP is therefore asking the court for the following reliefs:

A DECLARATION that the decision by the Defendant in upwardly reviewing and increasing ATM Transaction Fees, as contained in the Defendant’s circular dated 10th February 2025 is arbitrary, unfair, unreasonable, unjust and a dis-service to the consumers of the services rendered by Banks, Other Financial and Non-Bank Financial Institutions in Nigeria, and ultimately in breach of sections 1(c) and (d), 104, 105 and 127(1) of the Federal Competition and Consumer Protection Act 2018.

A DECLARATION that by the combined provisions of section 1 (c) and (d), 104, 105 and 127 (1) of the Federal Competition and Consumer Protection Act 2018, section 42(1) (a) of the Central Bank of Nigeria Act 2007 and section 10.7 of the Central Bank of Nigeria Guide to Charges by Banks, Other Financial and Non-Bank Financial Institution 2020, the Defendant cannot unilaterally increase ATM Transaction Fees without the consent of the Federal Competition and Consumer Protection Commission (FCCPC).

AN ORDER setting aside the Defendant’s circular dated 10th February 2025 and published on 11th February 2025, with reference number FPR/DIR/GEN/CIR/001/002, directed to all Banks and Other Financial Institutions for being arbitrary, unfair, unreasonable, unjust and a breach of the provisions of sections 1 (c) and (d), 104 and 127 (1) of the Federal Competition and Consumer Protection Act 2018.

AN ORDER restraining the Defendant, including its agents, assigns, privies and or representatives or such other persons acting on its behalf, and all Banks, Other Financial and Non-Bank Financial Institutions in Nigeria from implementing and/or enforcing the decision of the Defendant.

AND FOR SUCH FURTHER ORDER(S) that the Honourable Court may deem fit to make in the circumstance of this suit.

No date has been fixed for the hearing of the interim application and the substantive suit.

News

OPINION: Toru-Ibe State, Aiyedatiwa’s “No Land Ceding” Remark, And The Ondo Ijaw

Published

2 hours ago

July 22, 2025

Editor

By Icon-James Tam

The renewed push for the creation of Toru-Ibe State has once again brought the long-standing conversation around political inclusion and fair representation to the front burner particularly for the Ijaw people of Ondo State.

While I personally maintain a cautious stance on the possibility of state creation in today’s Nigeria, I cannot in good conscience dismiss the merit of the Toru-Ibe proposal. The uniqueness of the Ijaw story, their spread across multiple states, Ondo, Edo, Delta and the structural realities they contend with, all underscore the legitimacy of this demand.

Toru-Ibe State is not a new invention. It has a long and documented history, now receiving legislative attention as the National Assembly reviews the 1999 Constitution. Among the dozen proposed new states is Toru-Ibe, projected to include parts of Delta, Edo, and Ondo particularly Ese-Odo Local Government Area and the Ebijaw Ward in Odigbo.

During a recent consultation in Akure, the capital of Ondo State, the House of Representatives Committee on Constitutional Review met with various stakeholders. The Ijaw delegation, led by respected elder High Chief F.J. Williams, articulated a strong and factual case. The gathering was passionate. From the placards to the chants of “Asawana,” the message was clear, Ijaw people in Ondo are ready to align with their kin across state lines under a shared identity.

As someone who identifies strongly with the Ijaw cause, I understand the emotions in that room. Since the creation of Ondo State in 1976, our people have remained on the periphery. Despite a growing list of achievements such as Arogbo Kingdom having at least a lawyer to each family and other professionals to it credit in the state, our political elevation has remained limited. The highest position ever held by an Ijaw in the state is that of Secretary to the State Government.

Despite being a critical contributor to the state’s oil wealth, we have never led OSOPADEC, the agency set up to manage that same wealth. We are routinely included as non-executive participants, not because of a lack of competence, but because of a political structure that struggles to accommodate us beyond tokenism.

It was within this already difficult context that Governor Lucky Orimisan Aiyedatiwa made a statement that many of us found disappointing. In his remarks at the Dome in Akure, the Governor stated that although he is not against the creation of new states, “Ondo will not cede its land to another state.”

That remark, in our view, was both unfortunate and unnecessary. The lands the Ijaws occupy in Ondo today are not borrowed,they are ancestral. If a new state is carved out to reflect the cultural and geographical realities of the Ijaw people, it is not ceding,it is realignment. The lands remain with the people; only the political boundary shifts.

Remarks of that nature can be avoided with proper vetting and sensitivity, especially at a time when the national conversation is focused on unity, justice, and equity.

The Ijaw people of Ondo have shown extraordinary patience over the years. But even patience has its limits. We cannot afford to allow sentiment or political caution to downplay valid concerns of marginalization. I call on Ijaw elders, leaders of thought, and community advocates to issue a dignified and unambiguous rejoinder to the Governor’s comment not out of hostility, but to set the record straight.

One of our consistent challenges as a people in this state has been the fear of political reprisal. Too often, leaders shy away from assertive positions for fear of being blacklisted or losing out on patronage. But silence has never been a path to justice. Speaking for your people should never be a political liability.

Our place in Ondo’s governance structure has remained secondary. Even at the level of traditional leadership, it took the intervention of good Samaritanlike Barr. Sola Ebiseni to challenge what was nearly a permanent exclusion of the Pere of Ijaw from becoming Chairman of the Ondo State Council of Obas. Though progress was made, even the forthcoming opportunity for that chairmanship due to rotate to the south remains uncertain for Ese-Odo, the only Ijaw local government in the region.

In all of this, Toru-Ibe State is not just an aspiration,it represents hope, equity, and a better future for a people long overlooked. It offers the Ijaws of Ondo a pathway out of structural sidelining and an opportunity for real self-determination.

As we await the decision of the National Assembly, I wish the Ijaw people strength, focus, and unity. May this be the beginning of a new chapter in our political history.

By Icon-James Tam

Convener, Social Crusade for a Sane Society

News

“May May The South Of Former President Bola…,” Uzodinma Trends After Public Gaffe

Published

10 hours ago

July 22, 2025

Editor

The Governor of Imo state, Hope Uzodinma is currently trending on Social Media over a gaffe he made while eulogizing late Ex-President, Muhammadu Buhari.

It was learned that Uzodinma, while speaking at the Constitution Review Zonal Public Hearings in Owerri Center for Imo and Abia State on Saturday, made the error during a prayer for late Buhari.

The Governor said;” May the Soul of Former President Bola (pauses)…..Former President Muhammadu Buhari and the souls of all the departed through the mercy of God, Rest in Peace”

Watch the Video Below:

https://x.com/PoliticsNGR/status/1947042215970111565?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1947042215970111565%7Ctwgr%5E97d5beebb2dacda6422cd64f3c17c07d40488c07%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fnews.phxfeeds.com%2FwebFrame%3Ftype%3Dtwitterwidth%3D100height%3D0value%3Dhttps3A2F2Ftwitter.com2FPoliticsNGR2Fstatus2F19470422159701115653Fref_src3Dtwsrc255Etfw

News

Ex-Lagos Governor Fashola Gets International Appointment

Published

11 hours ago

July 22, 2025

Editor

Former Lagos State Governor and ex-Minister of Works and Housing, Babatunde Raji Fashola, SAN, has been appointed to the Board of Directors of Resolve to Save Lives Nigeria (RTSL Nigeria), an international public health organization.

The appointment was announced on Friday by RTSL Nigeria, a health-focused body working to prevent cardiovascular diseases and epidemics.

The group, which opened an office in Abuja in 2022, partners with governments and communities to tackle some of the world’s deadliest health threats.

Reacting to the appointment, Dr. Tom Frieden, President and CEO of Resolve to Save Lives, said: “We are thrilled to welcome Mr. Fashola to the RTSL Nigeria Board of Directors. He has demonstrated a commitment to improving lives and livelihoods in Nigeria through more than two decades of public service.”

Fashola, a Senior Advocate of Nigeria (SAN), previously served as Minister of Power, Works and Housing under President Muhammadu Buhari. He was also the Chief of Staff in Lagos State before becoming governor from 2007 to 2015.

During his tenure, Fashola was instrumental in managing Nigeria’s response to the 2014 Ebola outbreak, earning him international recognition, including the Stephen J. Solarz Award from the International Crisis Group.

In his acceptance remarks, Fashola said he was honoured to join the board and pledged to support the organization’s mission.

“I look forward to helping continue the progress in stopping preventable deaths from cardiovascular diseases and infectious disease outbreaks,” he said.

Ibrahim Abubakar, a fellow board member and Dean at the University College London Faculty of Population Health Sciences, described Fashola’s inclusion as a valuable asset, citing his governance experience and leadership during health crises.