The Central Bank of Nigeria (CBN) has officially increased the fee for card issuance and replacement to ₦1,500, effective May 1, 2026. This represents a 50% increase from the previous ₦1,000 benchmark established in 2020.
According to the 2026 Guide to Charges released by the CBN, the following rules apply:
- Standard Cards: A fixed one-off fee of ₦1,500 applies to the issuance, replacement (lost or damaged), and renewal (upon expiry) of all basic naira debit and credit cards.
- Maintenance Fees Scrapped: The monthly ₦50 maintenance charge for naira-denominated cards has been abolished to provide relief to customers.
- Virtual Cards: These remain free of charge to encourage digital banking adoption.
- Premium/Hybrid Cards: Issuance fees for these categories are now negotiable between the bank and the customer.
- PoS Transactions: All card payments made at merchant locations (Point of Sale) remain free for customers; the associated service charges are now borne solely by merchants
