Wetin dey happen for Naija cash scene? E be like say Nigerians no wan hear word for ATM wahala, as dem dey withdraw money like say tomorrow no dey. According to Central Bank of Nigeria (CBN) latest report, for the first half of 2025, ATM withdrawals don climb reach N36.34 trillion. You no go believe say na almost triple the N12.21 trillion wey dem do this same time last year. Abeg, wetin dey cause all this cash mania?
Despite CBN don adjust the ATM fees, wey now dey charge customers N100 for every N20,000 wey dem withdraw from another bank ATM, people still dey rush go cash. This new ATM fee regime wey start for March 2025 come add extra charge of up to N500 for ATM wey dey offsite like malls and airports. Dem even remove the free three withdrawals wey some people dey enjoy. Still, we see ATM withdrawal don increase by 197.66% year-on-year. Na wetin you go call this if no be resilience?
As per wey dem talk am, between January and June for 2025 alone, Naija people don carry out 858.80 million ATM transactions, compared to 496.47 million for the same time last year. Na 72.98% growth wey we dey look at here. You fit imagine the wahala wey this kind heavy cash usage fit bring? Even as CBN dey try stop cash dependency!
Let’s break down the monthly figures small small. In January 2025, Naijas withdraw N4.81 trillion, up from N2.15 trillion wey dem do last year, na 111.5% growth we dey see. February carry N5.40 trillion, March don show N5.76 trillion, and e no stop there. In April, dem withdraw N6.38 trillion, and May carry the best with N7.44 trillion. If you think say June go slow, dem still drop N6.55 trillion, wey no reach anywhere near the N2.45 trillion wey dem do last June.
Na true say some people dey complain say these charges go affect low income earners wey dey withdraw small cash for daily needs, but wetin people go do? As e be, cash na king for African market and Naija no be exception. Na even some consumer rights group don start to flex muscles against CBN policy, calling am unfair wey go just make life harder for average Joe.
Meanwhile, CBN dey handle banking matters as e fit. Dem don talk say if any bank dey charge more than wetin dem suppose, na sanction go dey wait them. Plus, dem encourage people to dey use their own bank ATMs make the whole cash wahala no too dey affect dem pocket. Fintech experts dey urge everybody to try use mobile apps and POS transactions but e no easy to break old habits.
As more people continue to withdraw cash like my guy wey no fit resist pepper soup, we go dey watch how this go affect our economy. With so much cash outside banks now, is we gonna see inflation or wahala wey go come make sense? Only time go tell, but Nigerians dey carry cash like dem dey feel something important dey happen for money matter.
Cash wey dey outside banks don reach N4.91 trillion as of November 2025, meaning say 93.34% of currency dey outside banking institutions. CBN dey attempt to tighten liquidity, but if so many billions dey go about, how dem go fit catch inflation? Na the questions wey dey dance around people head now as we dey look for solutions to this cash-carrying struggle.
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