Deposit Money Banks (DMBs) in Nigeria have increased the cost of SMS transaction alerts by 50 per cent, effective from today, 1 May 2025.
Guaranty Trust Bank (GTBank), Ecobank, and several others have notified customers of the change, raising charges to ₦6 per SMS. GTBank, which previously charged ₦4 per message, cited adjustments in telecommunications tariffs as the reason for the hike. Ecobank also announced an increase from ₦5 to ₦6 per SMS.
The change was communicated via customer emails on 30 April, referencing a “revised tariff structure”. GTBank’s message stated: “Please be informed that effective Thursday, 1 May 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message. This adjustment follows a recent increase in telecom rates communicated by service providers.”
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GTBank underscored the importance of SMS alerts for monitoring account activity and safeguarding against fraud, while also offering customers the option to opt out of the service. Customers can update their preferences by completing a form on the bank’s website and emailing it to gtbankmailsupport@gtbank.com.
SMS alerts provide real-time updates on account transactions, enabling customers to quickly detect unauthorised or suspicious activity. For those who wish to avoid the new charges, most banks continue to offer email alerts as a free alternative.
This development follows a broader tariff adjustment in the telecommunications sector. In February, the Nigerian Communications Commission (NCC) approved a 50 per cent increase in end-user telecom tariffs after sustained lobbying by service providers, who cited rising operational costs, energy prices, and the weakening naira.
Telecom operators such as MTN, Airtel, Globacom, and 9mobile have faced mounting financial pressure due to inflation, infrastructure import costs, and frequent damage to fibre-optic networks. Prior to the adjustment, telecom tariffs had remained largely unchanged for over a decade.
Although operators had pushed for a 100 per cent increase, the NCC approved a more moderate 50 per cent rise to balance operator sustainability with consumer protection.
The impact of the tariff hike is already being felt. SMS costs have risen from ₦4 to ₦6, while data plan prices have surged. For instance, MTN’s 1.8GB monthly plan has increased from ₦1,000 to ₦1,500, and the 20GB plan from ₦5,500 to ₦7,500.
