The Central Bank of Nigeria on Thursday announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals.
This came about three years after the apex bank stopped the charges.
In a circular to all Deposit Money Banks posted on its website, the regulator said the decision to reintroduce the charges on cash deposits was part of the review of charges on deposits and withdrawals under the cashless policy.
It said the decision was taken at the Bankers’ Committee meeting, which held in Abuja two weeks ago.
The circular, signed by the Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, stated that the committee decided that the cashless policy should be extended to the remaining 30 states of the federation.
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CBN reintroduces charges on cash deposits, withdrawals above N500,000
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