Nigerian Banks Hike SMS Alert Charges to ₦6: Customers Explore Alternatives Amid Rising Fees
Nigerian Banks Increase SMS Alert Fees to ₦6: What Customers Need to Know Nigerian commercial banks have sparked widespread frustration by raising SMS transaction alert charges from ₦4 to ₦6 per message, effective May 1, 2025. The hike, blamed on telecom tariff increases approved by the federal government, adds to the growing list of fees burdening customers—from transfer costs to cybersecurity levies. Why Are Banks Raising SMS Alert Charges? In messages sent to customers, banks cited “recent telecom rate hikes” as the reason for the adjustment. The move follows a 50% tariff increase imposed on telecom providers, which has cascaded into banking operations. Example of a Bank’s Notification: *“Dear Customer, effective May 1, 2025, SMS alert fees rise to ₦6/message due to telecom rate adjustments. You may opt out via our website.”* Customer Outcry: “Everything Keeps Going Up!” Nigerians took to social media and interviews to voice […]