In a bid to enforce cashless policy, the Central Bank of Nigeria (CBN) has re-introduced charges on cash deposits and withdrawals in the following states Lagos, Ogun, Kano, Abia, Rivers Anambra and FCT effective from April 1, 2017.

This cashless policy will be effective in other states as follows;


The Charges for all cash deposits and withdrawals are as follows;


Exemptions have however been granted to Revenue Generating Accounts of the Federal, State and Local Government on cash deposits.

Embassies, Diplomatic missions, Multilateral and Aid Donor Agencies in Nigeria will also be exempted from all processing fees relating to the cashless policy Implementation.


It is a pitiable situation, that for many years we have been running our Central Bank as a Commercial bank. The Central Bank Bank of Nigeria is more interested in generating revenue than developing the economy.

In a country like Nigeria, where the Central Bank should be more concerned about how to help the manufacturing sector and other SME’s grow and build a sustainable economy, they would rather be thinking of how to generate revenue, not minding the economic situation of the masses.

Charges are to be attached to cash deposits and withdrawal just to implement cashless policy. How about educating the populace and encouraging the banks to review charges on online transactions.

Source - http://www.ideologieshub.com.ng/central-bank-nigeria-cbn-cashless-policy-cash-deposits-withdrawals/

oh

what's wrong with this man so is it a sin to put money in the bank again? this is totally a wrong move

So you people are telling me from Ist May, I'd have to pay 20K just to collect 1M from MY account


Hmmm.

...wen u invite the devil to b d head of ur home dnt complain wen ur children starts dying... since apc n buhari took over this country there has never been anything to smile for...miserable party with miserable supporters/followers.

CBN Wants to use the entire Country to do Ponzi

Na to meet carpenter to construct small box with small hole go sure pass na o.

lol

Sijo01:
Na to meet carpenter to construct small box with small hole go sure pass na o.

What if I withdraw in bits?

na ur money but SMS charge de wait for u.

there was a month i paid 600 for sms charge

mrfizy:
What if I withdraw in bits?

This is what happens when you run Central bank as a commercial bank

CBN