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GTB Leads With Hike In SMS Charge As Telecom Tariffs Rise

by BUKOLA ARO-LAMBO
4 months ago
in Business
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Guaranty Trust Bank (GTB) has become the first major Nigerian bank to adjust its SMS transaction alert fees in response to a broader increase in telecom service charges, hiking its fee from ₦4 to ₦6 per message effective Thursday, May 1, 2025.

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In a notice to customers on Wednesday, the tier-one lender stated: “Dear valued customer, please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from ₦4 to ₦6 per message.” The bank attributed the move to rising operational costs passed down by telecom service providers.

“This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” GTB noted, while reaffirming the role of SMS alerts in helping customers track and secure their account activity.

GTBank’s fee adjustment follows the early implementation of a Federal Government-approved 50 per cent hike in telecom tariffs, which appears to have begun this week—well ahead of the initially projected timeline of March. MTN Nigeria, the country’s largest telecom operator, has revised its data and messaging rates, with others expected to follow suit.

As part of the tariff adjustment, telecom operators have raised the cost of standard text messages to ₦6, up from ₦4—a change that is directly affecting banks and other institutions that rely on SMS notifications.

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The increase is linked to the Nigerian Communications Commission’s (NCC) January approval of a 50 per cent tariff adjustment for telecom services, citing inflationary pressures and sustainability concerns in the sector. The move, which falls under the Commission’s mandate as provided in Section 108 of the Nigerian Communications Act, 2003, was finalised earlier this week.

At a recent industry forum, Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), disclosed that all major telcos had submitted their new pricing plans to the NCC and were awaiting approval. MTN has so far led the rollout, adjusting its 1.5GB plan from ₦1,000 to ₦1,500 for 1.8GB, with similar increases across higher data bundles.

GTBank, while implementing the increase, has also offered flexibility for customers who prefer to avoid the extra charge. “If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website and sending it to [email protected],” the bank said.

Customers with queries have been advised to contact the bank’s customer service helplines.


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