Starting Thursday, May 1, 2025, Nigerian bank customers will pay N6 for each SMS transaction alert, a 50% increase from the previous N4 charge. This adjustment follows a recent hike in telecommunications service rates approved by the Nigerian government.
Several commercial banks, including Guaranty Trust Bank Limited, have notified their customers of the new fee, citing higher charges from telecom providers as the reason for the increase.
In their communication, banks emphasized the importance of SMS alerts for account monitoring and control. They also noted that international SMS alerts would incur additional costs.
This rise in SMS alert fees coincides with growing concerns about the increasing cost of living and digital service access in Nigeria.
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