When the past cbn administration decided to go for a cashless economy policy, one of the major actions was to encourage banking by all and sundry in order to morph the cash in the economy into the banking sector.
lo and behold a few years later, the cbn is planning to introduce a charge of N50 for every N1000 deposited into an account...with this recent development, there will be a negative incentive to deposit money into the bank(a thousand naira in hand is worth 950 in the bank).
That N50 might be the profit on the whole N1000 or might even be more than the profit(how much be gain for recharge card). We want to develop SME's but if this policy is not given a "gerrarhia" treatment, no new SME will be created and the existing ones will even die.
Not only the SME's will suffer with this policys but also the big enterprises(dangote,shoprite,...), but this people can decide to increase their prices(na still 18k minimum wage go suffer am).
With this policy, minimum wage will be 17200...if FG/CBN no #LeaveTrashForLawma i think it is high time we #occupynaija again.


Thank you.
*MODIFIED

After reading the FTC reply! i took the pain of searching it and noticed that it was just a misinformation and it is N50 charge for N1000 above.
But the CBN never took the pain to explain this to the general public and just issued a directive.

stop spreading false news.

it is not 50 naira for every 1000 naira. that is a lie

it is 50naira for every receiving of money above 1000 naira from a third party.

it means if mr A received 1000 naira and Mr B received 10,0000,0000,000 naira, they will both pay 50 naira only

tuale4u:
stop spreading false news.

it is not 50 naira for every 1000 naira. that is a lie

it is 50naira for every receiving of money above 1000 naira from a third party.

it means if mr A received 1000 naira and Mr B received 10,0000,0000,000 naira, they will both pay 50 naira only

I am not trying to spread any rumor.
from all what i ve read on this medium, nobody has claimed this.
if this is true then, i guess the FG should improve how it disseminates information.

a thousand naira in hand is worth 950 in the bank).

On Point!