Tag Archives: Banks To Refund Charges

Cashhless Policy Photo

Cashless Policy Suspended By CBN, Banks To Refund Charges

Cashless Policy Suspended By CBN, Banks To Refund Charges

  Central Bank of Nigeria (CBN) has suspended its prior directive on the implementation of cashless policy.     CBN had formerly announced new charges on deposit and withdrawals above a threshold of N500,000.   The apex bank had directed banks to charge 5% and 10% for deposits and withdrawals above N40m in the corporate category.   The bank had fixed 1.5% and 2% for deposits ranging from N500,000 and N1 million in the individual

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