ATM Withdrawals in Nigeria
Automated Teller Machine (ATM) transactions in Nigeria surged in the first quarter of 2025 despite the Central Bank of Nigeria (CBN) introducing new withdrawal charges in February.
Data from the CBN’s quarterly statistical bulletin for Q1 2025 showed that ATM withdrawals reached N15.97 trillion between January and March, compared to N5.46 trillion in the same period of 2024 — a 192.7% increase year-on-year.
- ATM withdrawals: N15.97 trillion (Q1 2025) vs N5.46 trillion (Q1 2024)
- Transaction counts: 411.42 million (Q1 2025) vs 210.66 million (Q1 2024), a 95.3% rise
The growth in value outpaced the rise in volumes, which means that Nigerians were taking out far larger sums per withdrawal.
Monthly figures highlight how withdrawal behaviour shifted during the quarter:
- January 2025: N4.81 trillion from 147.24 million transactions
No direct quotes available in the text.
Author's summary: ATM withdrawals in Nigeria increased by 192.7% in Q1 2025.