Nigerians on Twitter have attacked the Central Bank of Nigeria (CBN) over its recent decision to increase charges on transactions.

Igbere TV had reported that the CBN, said customers making cash deposits or withdrawals will pay charges beginning from today in line with its new policy.

The objective of the “transaction fees” is to give vent to the Central Bank’s policy designed to reduce cash in use.

CBN Payments System Management Department Director Sam Okojere on Tuesday announced the take-off of the charges in a statement.

“The transactions will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments above N500, 000 for individual accounts.

“Corporate accounts will attract five per cent processing fees for withdrawals and three per cent processing fee for lodgments above N3 million.

Reacting to the development, Nigerians are asking for the reason they need to pay an extra 2% when they deposit over N500,000 or pay 3% when they withdraw same; after paying account maintenance charges monthly, ATM maintenance charge, stamp duty charges and transaction charges when they ransfer to other banks.

http://igberetvnews.com/1002127/nigerians-react-to-cbns-new-policy-on-cash-deposits/

More; http://igberetvnews.com/1002127/nigerians-react-to-cbns-new-policy-on-cash-deposits/

Lalasticlala Mynd44 Dominique

We can only react on social media. No action. If you don't want to be charged,do cashless transactions. Must we always react negatively all times?

Okay na

Meanwhile happening in Aso Rock

Lols.withdraw 450k and come back for d balance

Una never see anything.. Next level...

Country weh fit vote buhari ,vote tacha.na country b that?

Doctorfitz:
Lols.withdraw 450k and come back for d balance

Like you dont handle big transactions that you just have to do over N500k.

if we like as nigerians, let us react till thy Kingdom comes....Nothing will happen!
Except the Senate and House of Rep Members are affected, then They will either suspend it..

Doctorfitz:
Lols.withdraw 450k and come back for d balance

Una never see anything.. Next level...

Country weh fit vote buhari ,vote tacha.na country b that?

ha ha ha ha hahhhhhhhhhhhhhhhhhhhh

TILL THE DULLARD IS DONE KILLING THE ECONOMY THEN ALL OUR EYES GO CLEAR

The transactions will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments above N500, 000 for individual accounts.
“Corporate accounts will attract five per cent processing fees for withdrawals and three per cent processing fee for lodgments above N3 million.

Mba, we no go gree lailai.

so for a withdrawal of 500K, I need to keep aside raw 15K to give Nigerian government that doesn't even care how I make my money after paying other Levie and tax in making d money

Since the emergencies of Buhari (jubril) as the presidents of Nigeria, I have always have the feeling that I'm in a different country.


Gej make withdrawal from other banks free but to bubu.... No!


Gej... Try to even bring down the price of fuel but bubu has taken our mind away from yesterday when everyone was able to smiles with the little they could do.














Buhari is a disaster!

Ook

Tr

Mheen! Cashless policy! We haven't gotten there yet. With nonsense network from Bank app, with long queue and nonsense atms network, with delayed in payment transfer between banks atimes. Cbn should Chanel their energies to something else. They should work on cashless policy limitations first.

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Dear Nigerians
You have have to know that this is only apply to a Customer who will go to a bank to deposit/withdraw Cash(Note/legal tender), if you're Transacting using mobile banking/internet banking /ussd banking / POS and other means that aren't Cashing to teller THIS IS NOT Apply to you .
If nigeria cashless policy work correctly it will improve digital innovation in financial transactions technology, reduce all those queue in ATM and banking halls and non repudiated financial transaction

Same country pos fails

The difference between the People of titanic and the people of Nigeria is that they knew they were sinking.



It’s a pity.

Ever played the next level of any game? Omo e dey always hard.

This govt is just pushing its damned luck too far. Any sensible govt wouldn't do this. It is well. Next level things.....





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This is pure stealing

Which day Nigerian citizen go get promo self

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post=82348843:

Mba, we no go gree lailai.

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They do what they want because they knew we are powerless....

Will this provide jobs ?

the government just want to drain the electorates. Make i here baba say him de fight for ordinary Nigerians again

Some comments can just make you forget your problems for a minute!

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This policy is evil and should not be allowed to stand, first FG increased VAT, now CBN is coming up with this, they don't even care about the plight of the masses


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I don't know Nigerians and Chemical who react pass