"Nigerians Will Begin To Pay For Deposits And Withdrawals in Year 2020"- CBN

9 months ago by: Chris Brazz
-- (m) at 18-09-2019 03:23PM (9 months ago)

(4733 | Gistmaniac)


Starting from September 18, 2019, Nigerians operating bank accounts will begin to pay charges for deposits and withdrawals.
 
This comes after the Central Bank of Nigeria on Tuesday said that the nationwide implementation of the cashless policy will begin by March 2020.
 
The apex bank said that implementation of the policy would signal the imposition of charges on deposits in addition to already existing charges on withdrawals.
 
According to the circular, the charges will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts.
 
For corporate accounts, the apex bank in the circular said that DMBs would charge five per cent processing fee for withdrawals and three per cent for lodgments of amounts above N3m.
 
The statement, however, disclosed that the charge on deposits would apply in Lagos, Ogun, Kano, Abia, Anambra, and Rivers states as well as the Federal Capital Territory.
 



-- kenshin2 (m) at 18-09-2019 03:38PM
(332 | Upcoming)

E be like say craze dey worry una papa...I go kukuma buy kolo dey save my money. Nonsense!
Reply
-- fineboy77 Online (m) at 18-09-2019 03:44PM
(10188 | Hero)

simple,continue withdrawing N499999 as many times as possible until u get the amount u need.

Reply
-- RRSD71 (m) at 18-09-2019 04:06PM
(94 | Newbie)

Why is this government so wicked?
There's never been a time when u give to your citizens instead you keep make laws to make life hard and difficult for them, why?
Nigerians be wise!!!
Once a soldier, always a soldier,
Stop voting for old criminal politicians oooo
Reply
-- KOSHIMANA Online (m) at 18-09-2019 04:58PM
(147 | Upcoming)

Like 3m on 90k and 10k on top 500,000.abeg I need  more clarification on top dis issue.
Reply
-- kacylee Online (f) at 18-09-2019 07:46PM
(27613 | Addicted Hero)

no need i dey close bank account i go dey keep my money for house.... i dey go do iron kolo

Reply
-- maizaxx (m) at 18-09-2019 08:05PM
(1117 | Gistmaniac)

I'm sorry to say this, but I can categorically tell you that cashless economy has just failed because people will stop depositing monies in the bank.
Reply
-- kp45 (m) at 18-09-2019 08:27PM
(10394 | Hero)

I go dey withdraw or deposit small small till I reach my goal
Reply
-- Topexcity (m) at 18-09-2019 08:49PM
(332 | Upcoming)

IT IS VERY SAD NIGERIAN GOVERNMENT WILL IMPLEMENT SUCH LAWS ON CITIZENS WHO BENEFITS NOTHING FROM THEIR GOVERNMENT FOR OVER 50YRS,
NO GOOD ROAD,
NO ELECTRICITY,
FOOD PRICE, BUT WHY? DRAINING YOUR CITIZENS TILL DEATH OVER TAKES THE COUNTRY WILL NEVER HELP,
THEY FORGOT TO REALIZE THAT NIGERIANS STARTED BANKING NOT UPTO 15YRS.
BETWEEN 2005 TILL NOW.... WHY IMPOSING SUCH LAW? IT IS JUST TOO EARLY FOR THAT.
SMH.

Reply
-- Henrybobo Online (m) at 19-09-2019 08:45AM
(2074 | Gistmaniac)

We d youths are not ready to end all this rubbish.. so they can continue doing whatever they like
Reply