MyTime3: You don't value what you have till you loose it.... #BringBackSanusi in CBN #BringBackBarthNnaji in Power sector etc

NO AMOUNT OF BLATANT ALLEGATIONS CAN DISCREDIT THE VALUES EMBEDDED IN THE PERSONALITY OF HIS HIGHNESS ALHAJI SANUSI LAMIDO SANUSI .
FELLOW NIGERIANS !!! TRUTH IS BITTER BUT STAND BY IT.

MyTime3: You don't value what you have till you loose it.... #BringBackSanusi in CBN #BringBackBarthNnaji in Power sector etc

DO YOU KNOW THE WORST AS REGARD POWER FAILURE , IN THE PRESENCE OF MR PRESIDENT HIMSELF WHEN HE WAS ADDRESSING A CONGRESS THEY TOOK OFF THE LIGHT. SHAMELESS LEADERS, SHAMELESS INDEED.

The justification for the N65 ATM charges!!!

The Central Bank of Nigeria, CBN, has denied the
report that it has reintroduced charges on the use
of Automated Teller Machines, ATMs.The
Director, Banking Payments System Department
of CBN, Mr. Dipo Fatokun, told Vanguard after his
remarks at the meeting held by Nigeria Electronic
Fraud Forum in Lagos, that was not a
reintroduction.
According to him, “You have to agree with me that
when the amendment was made in November
2012, it used to be a N100 for any remote-on-us
withdrawal that you did. And you know that the
remote-on-us is when you as a card holder goes
to the ATM of a bank other than your bank to
withdraw cash. It was removed then so that
people would be encouraged to go to other ATMs
without paying for it.
""But the truth is that as we said in the circular on
the Introduction of Fees on Remote-On-Us ATM
Withdrawal Transactions recently, that N100
included the N35 that goes to the issuing bank,
which has now been completely waived.The
issuing bank does not make any thing, but in
going to other ATMs to make withdrawal , your
bank, that is, the acquirer bank incurs cost of N65
which they pay to the switches and the owner of
the ATM that you are using.
Continuing, he said: ”Between 2012 and recently
when the review was done, it was discovered that
people have actually turned ATMs into their
personal purses because nothing is charged.
Somebody needs N500, or N1000, he will go to
ATM and withdraw, he needs N2000, he will go to
ATM and withdraw, so that in a day some people
can patronise ATM for up to four or ten times.
That has created a huge cost burden for the
banks that issue the cards.
It was becoming discouraging to them.“So that is
why we said, you can go to an ATM other than
your bank ATM to withdraw up to three times and
no charges would be imposed on you, but it is
when you make the fourth withdrawal that you
will pay the N65 that ordinarily your bank would
have paid on your behalf. But of course, if you go
to your bank’s ATM, the issuer, for withdrawal
you can withdraw as many times as you like
without being charged. So, it does not discourage
financial inclusion.""

https://m.facebook.com/story.php?story_fbid=873201239375297&id=100000562870815&refid=7&_ft_=qid.6048511213871993192%3Amf_story_key.-7071387117622492895&__tn__=%2As

So do you expect them to exclude charges for Interbank transfer.. Who bears the charges paid on platform with which the transaction is consumated, and remember that customer bears the charge either on Internet Banking Platform or You effect the transfer in the banking hall. Also, are you aware that the transfer is instant, and available 24/7.... How convenient could that be? And compare the charges to the maximum amount you can transfer at your convenience, Bros Life has been made so easy..... Let us embrace ADVANCEMENT in our banking system............... Will you compare the cost to the Stress, time spent, Transport Fare paid to go to your beneficiary bank................

TEXZLEM:


Meanwhile the Internet banking you talk about involves charges if it is inter bank transaction. if you like transfer 1kobo...GTB will charged you N105 and VAT 5.25 just because you used internet banking

My brother...these people are just thieves.

There must be a real cost to this ATM. Have you guys noticed how dispense errors had increased? With this policy, the issue of dispense error will reduce.

Omasmiley:
There must be a real cost to this ATM. Have you guys noticed how dispense errors had increased? With this policy, the issue of dispense error will reduce.

Says who? In those days when they were charging =N=100 as ATM fees, are you saying there was no ATM dispense error?

All the banks recorded huge profits despite the cancellation of the =N=100 ATM charges, back then. I beg, this CBN governor is just clueless & needs to change his orientation. He is still thinking like the average commercial banker (i.e. my ambition is to make money at the expense of everyone else, regardless of how it is done & whose ox is gored..)

oh SLS, where art thou? Truly, truly thy policies were customer-friendly when thou were at the helm of CBN....