As part of efforts to protect its customers from the financial burden of the Central Bank of Nigeria’s (CBN) latest directive, which sets the charge for ATM card issuance and maintenance at N1,500, Dash Microfinance Bank has launched its “near-zero” fee policy, offering customers a flat transaction rate of N5, one of the lowest in the Nigerian banking industry.

The initiative, which takes immediate effect, is designed to ensure that banking remains affordable and accessible for all Nigerians, from students and petty traders to small business owners and salaried professionals.
As Nigeria’s economy accelerates its shift towards digital-first financial interactions, the bank said it remained committed to ensuring that the cost of moving money stays minimal for everyday Nigerians.

By introducing an N5 flat-rate fee, the bank is providing a necessary buffer for customers currently adjusting to the updated card charges introduced under the new CBN policy.

The Chief Executive Officer of the bank, Rotimi Awofisibe, said, “We believe that banking should be easier and made just for you. With the new N1,500 card charges, we wanted to find a way to give back to our customers. By offering N5 transactions, we are empowering students, the traders and professionals to move money freely without the fear of high service costs.”