Nigerian banks will begin charging N6 for each SMS transaction alert from Thursday, May 1, 2025.
This new rate replaces the previous N4 fee, marking a 50% rise in the cost of receiving updates about transactions via text messages.
The change comes after telecommunications companies reviewed their pricing, following approval from the federal government.
Commercial banks informed their customers through messages sent out on Wednesday morning, explaining that the hike was necessary due to the rise in telecom service charges.
Customers who use international phone numbers were also told to expect higher charges for alerts.
The banks explained that these notifications are helpful for keeping track of account activities.
However, those who prefer to stop receiving SMS alerts have the option to switch to email or manage their alert preferences through the bank’s website.
This new development has sparked reactions among Nigerians, many of whom already face several banking and network service fees.
With the new rate set to begin immediately, customers are expected to adjust to the increased cost of staying informed about their financial transactions.
