Banks Resume Charges On Cash Deposits Above N500k - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / Banks Resume Charges On Cash Deposits Above N500k (183 Views)
CBN Directs Banks To Suspend Charges On Deposits Till September / CBN Suspends Processing Fees On Large Cash Deposits / CBN's New Policy On Cash Deposits: Nigerians React (2) (3) (4)
| Banks Resume Charges On Cash Deposits Above N500k by franugo(m): 5:51am On May 07 |
The Central Bank of Nigeria (CBN) has reintroduced fees for deposits exceeding N500,000 for individuals and corporate account holders. The development is coming more than four months after the apex bank suspended the processing fees on cash deposits above N500,000 until April 30, 2024. In a circular to customers, First Bank Nigeria (FBN) said the new directive took effect May 1. While 2 percent is charged on deposits above N500,000 for individuals, 3 percent is charged for all deposits above N3 million for corporate account holders. https://www.thecable.ng/icymi-banks-resume-charges-on-cash-deposits-above-n500k/amp/ |
| Re: Banks Resume Charges On Cash Deposits Above N500k by franugo(m): 5:55am On May 07 |
I really don't understand this govt. You complain that people are holding over 90 percent of existing cash outside the bank and then introduce a policy like this which will only serve to discourage cash deposits. Asides getting more funds for fg to waste, what is the use of this policy? 6 Likes 2 Shares |
| Re: Banks Resume Charges On Cash Deposits Above N500k by garriAndsugar: 7:19am On May 07 |
Tinubu will tax and tax until you start paying for jogging and walking around. Somebody that's his only achievement is increasing IGR through devilish taxing 1 Like |
| Re: Banks Resume Charges On Cash Deposits Above N500k by HenryThegreat1(m): 7:53am On May 07 |
Bola tinubu shall. |
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