Beginning today, Nigerian banks will commence charging N6 per SMS alert to customers, marking a 50% increase from the previous rate of N4. This adjustment follows the recent hike in telecommunications charges approved by the Federal Government.

The revised fee applies to all SMS notifications related to banking transactions. Banks have begun notifying their customers about the new rate through official emails and digital channels.

One such notification from Guaranty Trust Bank (GTBank), titled “Increase in SMS Transaction Alert Fee”, explained the reason for the change:

“Dear Valued Customer, please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This change follows a recent adjustment in telecom tariffs communicated by service providers.”

GTBank emphasized that SMS alerts are critical for tracking account activity and ensuring account security. Customers who prefer not to receive SMS notifications can opt out by updating their preferences through the bank’s website.

The bank also noted that messages sent to international numbers would incur additional charges based on global SMS rates.

This development comes in the wake of increased operational costs in the telecommunications sector, prompting service providers to revise their pricing structures. Financial experts warn that the new charges, while seemingly small, could add up quickly for customers with frequent transactions, especially those who rely heavily on SMS alerts instead of mobile apps or email notifications.