Ecobank Implements Reduced Charges


Ecobank Nigeria Limited said it has complied with the Central Bank of Nigeria’s (CBN) recent directive on the reduction of bank charges.

The bank in a statement, also commended the CBN for taking the step which was aimed further strengthening financial inclusion in the country.

The bank disclosed that it had, in October 2019, announced the elimination of charges on its USSD platform, even prior to the new CBN directive.

“Customers using *326# for their transactions such as inter and intra bank funds transfers, bill payments, airtime top-up, balance enquiry etc. can do so at zero session fees,” it stated.

The Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan, advocated stakeholder buy-in to make banking more affordable and accessible to all. He noted that lower charges would encourage the unbanked to adopt structured financial services, thereby driving financial inclusion and economic growth.

“Ecobank has been at the forefront of the campaign for inclusive, affordable banking. Anyone, regardless of their social class, can open the Ecobank Xpress Account with Zero Naira, from any phone type, simply by dialing *326#. The account opening process is fully “do it yourself” without any documentation or paperwork,” the statement added.

The Ecobank boss in his new year message to customers, added, “Our removal of session charges on Ecobank *326# well ahead of the recent downward review of charges on digital transactions by the Central Bank of Nigeria further demonstrates our commitment to delivering more savings to our customers, making banking with Ecobank more delightful in the new year and beyond”