Cash Deposits: CBN Commences Charges - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
September 18, 2019
The Central Bank ofNigeria has announced the commencement of charges on deposits in addition toalready existing charges on withdrawals.
According to astatement from the CBN, the charges, which takes effect today, September the18th, will attract 3 percent processing fees for withdrawals and 2 percentprocessing fees for lodgments of amounts above 500,000 naira for individualaccounts.
The statement,however, explains that the charge on deposits shall apply in Lagos, Ogun, Kano,Abia, Anambra, and Rivers states as well as the Federal Capital Territory,while the implementation of the cash-less policy will take effect from Marchthe 31st, 2020.