Good day all.

Recall that the former governor of the CBN - His Eminence, Emir Sanusi Muhammad, in 2013 started the gradual phasing out of Commission on Transaction (COT) with a view to eliminating the fee totally by 2016. See the link below.

http://www.cenbank.org/Out/2013/FPRD/Circular%20to%20all%20Banks%20and%20Discount%20Houses.%20The%20Rrvised%20Guide%20to%20Bank%20Charges.pdf

The above meant that the COT fee, which has been adjudged as one of the killers of small businesses in Nigeria should be N1/mille as at date.

But investigations have shown that all Nigerian banks still charge the N3/mille which Emir Sanusi dropped it to in 2013, in total violation of the CBN circular.

Hence, the important question: Why is COT still N3/mille in the country. Has that circular been disregarded or is the new CBN governor not man enough to implement it?

Seun, lalasticlala, ishilove and other mods, kindly move to frontpage for effective investigation.

God bless