Nigerian Banks to Raise SMS Alert Fees to N6 Starting May 1, 2025

“Starting May 1, 2025, Nigerian bank customers will pay N6 for SMS transaction alerts—a 50% increase. The hike follows new telecom rate adjustments approved by the federal government”

Nigerian bank customers will experience a rise in the cost of SMS transaction alerts as banks prepare to implement a new fee of N6 per SMS effective Thursday, May 1, 2025. This marks a 50% increase from the current charge of N4, following a recent federal government approval for higher telecommunications service rates.

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Several commercial banks have begun notifying customers of the upcoming adjustment, citing increased charges from telecom service providers. Among them, Guaranty Trust Bank (GTBank) issued an official statement via email under the subject “Increase in SMS Transaction Alert Fee.”

“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 adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” the bank stated.

GTBank also emphasized the value of SMS alerts in helping customers stay informed and maintain control over their account activities. The bank added that SMS alerts sent to international phone numbers will attract additional fees.

This fee adjustment arrives amid growing concerns about the rising cost of living and access to digital financial services in Nigeria. As banking increasingly goes digital, service costs like SMS alerts are under scrutiny, particularly for their impact on lower-income and rural customers.

Consumers are encouraged to explore alternative notification options, such as email alerts or banking apps, which may help reduce costs.