By Abiola Serah Funmi
Do you think it
will have negative impact on the cashless policy and economic growth in
general?.
The bank have spent a lot of resources in
deploying ATM infrastructure and they. Have responsibility to recover their
cost.Before the banking consolidation. We had probably less than one hundred
ATM in Nigeria was in 2004. Today in every nook and cranny,you see ATMs
deployed and they are still not sufficient.
If you go outside Lagos, you see queues for
ATMs, they (the banks) need to be able to recover part of this cost so that
there can be an incentive for them to continue to deploy them.The removal of
the charges initially affected the bank performance when you talk about banks
profit,nobody looks at the capital employed or human resources deployed,nobody
thinks about the infrastructure they are using to generate these billions.
But the truth of it that this arrangement is
excess for people who are withdrawing,it's marginal fee in terms of payment, you
must have done three withdrawal but applies to you,so, it will also help those
who withdraw money not to do so in frivolous manner and plan their cash flow I
believe that banks must encouraged to continue to deploy ATMs. I don't think we
have sufficient really after Lagos, where you have a lot of queues,the
incentive for them to deploy more must never be lost.And so, there should be
some compensation for that services.
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