The Central Bank of Nigeria on Tuesday said that the nationwide implementation of the cashless policy will begin by March 2020.
It said that implementation of the policy would signal the imposition of charges on deposits in addition to already existing charges on withdrawals.
For corporate accounts, the apex bank in the circular said that DMBs would charge five per cent processing fees for withdrawals and three per cent processing fee for lodgments of amounts above N3, 000, 000.
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