The increase comes after new telecom service charges were approved by the Nigerian Communications Commission (NCC).
GTBank and Ecobank are among the first banks to announce the changes.
GTBank’s alert fee has moved from N4 to N6 per message.
Ecobank also raised its fee from N5 to N6, sparking reactions from many customers.
In an email sent out on April 30, GTBank informed customers of the hike.
“Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates,” the bank noted.
The bank added that the SMS alert service helps users stay updated and protect their accounts.
Customers were also told they could opt out of SMS alerts by filling a form online.
Meanwhile, Ecobank has also spoken about the changes.
In a message to customers, the bank explained,
“We understand that this change may cause some inconvenience and want to assure you that the decision was made after careful consideration. We remain committed to delivering the best possible service.”
This new development affects millions of Nigerians who rely on SMS alerts to monitor their bank activities in real time.
The system helps reduce fraud and unauthorized transactions.
However, many people are now concerned about the extra cost involved, especially in a country where financial struggles are already widespread.
Moreover, banks like GTBank and Ecobank offer email alerts as a free option for customers.
Although email notifications provide similar value, many users still prefer SMS due to its instant delivery and ease of access.
Therefore, while banks have justified the increase in light of rising telecom rates, there are growing concerns among the public.
Many are calling on the NCC and the Central Bank of Nigeria to revisit the decision and offer more consumer-friendly solutions.
Abeg make no bank send me any message again. I no need am. No be like say if Dem scam person, Dem dey inform on time. So, what’s the use?