The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to suspend the recent increase in Automated Teller Machine (ATM) transaction fees, pending the outcome of an ongoing lawsuit at the Federal High Court, Lagos.
In a statement, SERAP also urged the President to consult Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, on whether the CBN has a legal obligation to uphold the rule of law by suspending the fee hike until the case is determined.
Last month, SERAP filed a lawsuit against the CBN, arguing that the increase in ATM charges is unlawful, unfair, and unjust, and should be reversed to protect Nigerians from further financial hardship.
