Nigerian commercial banks have announced an increase in SMS transaction alert fees from N4 to N6 per message, effective Thursday, May 1, 2025. The adjustment comes in response to recent changes in telecom service rates, as communicated by telecommunication providers.
In a statement to customers, banks emphasized the importance of SMS transaction alerts in monitoring account activities and enhancing security. While the fee increase reflects external cost adjustments, customers who prefer not to receive SMS alerts have the option to update their preferences
The telecom industry has faced rising operational costs due to factors such as energy price hikes, naira depreciation, and infrastructure disruptions. In response, telecom operators petitioned the Nigerian Communications Commission (NCC) for a tariff increase, leading to a 50% hike in SMS charges.
Despite the fee adjustment, banks reaffirm their commitment to providing secure and efficient banking services. Customers are encouraged notification options, including email alerts and mobile banking apps, to manage their transactions effectively.