Many bank customers in Nigeria are unhappy with the latest increase in SMS alert fees. From May 1, 2025, banks started charging ₦6 per SMS alert instead of the previous ₦4. Banks say this is because telecom companies have raised their prices by 50%, and they are passing the cost to customers.

Nigerian bank users already pay many fees, such as:

• Money transfer charges
• Account maintenance fees
• ATM withdrawal charges
• SMS alert fees
• Cybersecurity levies
• Electronic Money Transfer Levy (₦50 for transfers of ₦10,000 and above)

Now, with the SMS fee hike, customers are feeling the pressure even more.

Customers Share Their Views

A financial expert, Kayode Gabriel, said that although the economy is tough and costs are rising, banks should offer free alternatives like app or email alerts instead of charging for SMS.

Shaba Victor from Akure said the ₦2 increase may seem small, but it adds up when you make many transactions. He also believes banks are quick to pass any new cost to customers.

Another customer said he was charged over ₦1,100 in just one month for SMS alerts. With the new rate, he expects his monthly alert cost to rise even higher.

Emmanuel Okon plans to deactivate SMS alerts entirely. He feels this is the best way to avoid extra charges.

Some Customers Deactivating SMS Alerts

Some banks, like Union Bank, sent messages telling customers that they can choose to stop receiving SMS alerts by filling a form on their website. Banks say SMS alerts are useful because they help customers monitor their accounts, but they understand if people want to opt out.

What Experts and Stakeholders Are Saying

Deolu Ogunbanjo, President of the National Association of Telecom Subscribers, confirmed that the new SMS charge is a result of the 50% telecom tariff increase. He said the charge could have been just ₦5 if the government had stuck with a 35% increase originally suggested.

He also advised banks to stop sending separate messages for small charges like VAT, which add to the total cost.

Prince Sina Bilesanmi, head of ATCIS-Nigeria, supported the increase but stressed that banks must improve their service if they are charging more.

Professor Ndubisi Nwokoma, an economist, said multiple bank charges are making people lose trust in banks. He added that many now prefer to use cash or fintech services to avoid these fees.