Banks Hike SMS Alert Charges by 50% – A Blow to Struggling Customers in Nigeria

Effective May 1, Deposit Money Banks (DMBs) across Nigeria have increased their SMS transaction alert charges by 50%, following a recent hike in telecom tariffs approved by the Nigerian Communications Commission (NCC). Guaranty Trust Bank (GTBank) and Ecobank are among the institutions that have notified customers of the new fees, which now stand at N6 per SMS.

GTBank explained that the adjustment—from N4 to N6 per message—was necessitated by higher costs imposed by telecom providers. Ecobank also raised its charge from N5 to N6, citing similar reasons. Both banks emphasized that the changes were a direct result of revised telecom tariffs and rising operational expenses, particularly for SMS delivery.

While the banks are offering free email alerts as an alternative, many Nigerians—especially those without regular internet access—remain reliant on SMS for real-time transaction updates. This latest cost increase is expected to deepen the financial burden on millions who are already grappling with economic hardship.


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For a population where over 60% live below the poverty line, the seemingly minor hike represents more than just a few extra naira—it adds up to a significant cost over time. Many low-income earners depend on affordable banking services for financial inclusion. Now, the added fees risk pushing more people toward financial disengagement or increased vulnerability to fraud.

The fee hike is part of a broader trend of rising costs in the telecommunications sector. After more than a decade of static pricing, major providers including MTN, Airtel, Globacom, and 9mobile successfully lobbied the NCC for a tariff review, citing currency depreciation, energy costs, and expensive infrastructure imports. The NCC responded by approving a 50% increase in end-user tariffs earlier this year.

Consequently, basic telecom services have become more expensive. MTN’s 1.8GB data plan, for instance, jumped from N1,000 to N1,500, while its 20GB bundle now costs N7,500, up from N5,500. Despite these adjustments, service providers continue to contend with operational challenges such as frequent fibre optic cuts and power disruptions, compounding costs for both businesses and consumers.

As telecom and banking costs rise in tandem, the impact on everyday Nigerians—particularly the financially vulnerable—is significant. Consumer advocates and civil society groups are calling on banks and telecom companies to act with greater social responsibility by prioritizing affordability, accessibility, and transparency.

Without a deliberate focus on protecting low-income consumers, these incremental increases risk widening the gap in financial access and exacerbating the economic inequality that continues to challenge Nigeria’s path to inclusive growth.