The CBN said the charges would be in addition to already existing charges on withdrawals, and will be aimed at encouraging it's cashless policy.
Effective Wednesday, September 18, cash deposits and withdrawals from individual bank accounts are to attract addition charges, the Central Bank of Nigeria said on Tuesday.
The CBN said the charges would be in addition to already existing charges on withdrawals, and will be aimed at encouraging it’s cashless policy. With the review, which takes effect from Tuesday September 17, the CBN said it gave approval for banks to unbundle merchant settlement amounts and charge applicable taxes and duties on individual transactions as stipulated by regulations.
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