CBN recently introduced new charges, stipulating that ATM withdrawals made at machines owned by a bank but located outside its branch premises would attract a ₦100 fee per ₦20,000 withdrawal. Withdrawals from ATMs at shopping centres, airports, or standalone cash points would also incur an additional surcharge of up to ₦500 per ₦20,000 withdrawal.\

In the lawsuit, filed under suit number FHC/L/CS/344/2025 at the Federal High Court in Lagos, SERAP is seeking a judicial determination on whether the CBN’s decision aligns with the Federal Competition and Consumer Protection Act 2018. The organization argues that the fee hike is arbitrary and violates consumer protection laws.