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Stanbic IBTC Bank Begin Charges On Naira Cash Deposits - Business - Nairaland

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Stanbic IBTC Bank Begin Charges On Naira Cash Deposits by Sanchez01: 9:34am On Sep 19, 2019
We have a huge problem on our hands! I received a text message from Stanbic IBTC this morning that it has commenced, with immediate effect, charges on Naira cash deposits in Lagos, Abuja, Ogun, Kano, Abia, and Rivers State.

Re: Stanbic IBTC Bank Begin Charges On Naira Cash Deposits by cenaman(m): 9:37am On Sep 19, 2019
Sanchez01:
We have a huge problem on our hands! I received a text message from Stanbic IBTC this morning that it has commenced, with immediate effect, charges on Naira cash deposits in Lagos, Abuja, Ogun, Kano, Abia, and Rivers State.

why only 6 state?
Re: Stanbic IBTC Bank Begin Charges On Naira Cash Deposits by Sanchez01: 9:44am On Sep 19, 2019
cenaman:
why only 6 state?
I sincerely have no idea. Although the initial report mentioned that it would be a nationwide thing by March 2020, it didn't say anything about those six states other than a 3% charge for lodgments on sums above N3 million.

My best guess is that the CBN chose the states based on their banking activities.

We have a horrible economy, yet we are going the American way in banking. This policy is anti-people.
Re: Stanbic IBTC Bank Begin Charges On Naira Cash Deposits by cenaman(m): 9:52am On Sep 19, 2019
Sanchez01:

I sincerely have no idea. Although the initial report mentioned that it would be a nationwide thing by March 2020, it didn't say anything about those six states other than a 3% charge for lodgments on sums above N3 million.

My best guess is that the CBN chose the states based on their banking activities.

We have a horrible economy, yet we are going the American way in banking. This policy is anti-people.
Honestly every system in the country is going backward.
Re: Stanbic IBTC Bank Begin Charges On Naira Cash Deposits by Sanchez01: 10:01am On Sep 19, 2019
cenaman:
Honestly every system in the country is going backward.
The system is designed to fail. Either deliberately or otherwise.

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