Nigeria, March 11 -- The House of Representatives has demanded the immediate suspension of increase in ATM transaction charges and stoppage of free ATM withdrawals for customers from other banks imposed by the Central Bank of Nigeria.

The Green Chambers said the apex bank prescription of an increase in ATM withdrawal charges and a discontinuation of the free ATM withdrawals for customers using other banks' ATMs has imposed additional financial burdens on Nigerians.

The Lower Chamber pointed out that the banking sector has continued to record significant profits, and as such imposing further charges on consumers without corresponding improvements in service delivery or infrastructure is not justifiable.

The House opined that the imposit...