So, earlier today, the news came out, that Central Bank of Nigeria (CBN) has released a revised guide to charges by banks and other non-bank financial institutions in Nigeria.

Here's the exact statement they issued this afternoon about it:

In a bid to encourage financial inclusion and to reduce the burden of bank charges on consumers of financial service, CBN has issued a revised Guide to Charges by Banks, Other Financial and Non-Bank Financial institutions in response to the evolution in the financial industry over the last few years.

CBN new guide includes, among others, downward review of charges for electronic banking transactions.

Review of other bank charges to align with market developments and inclusion of new sections on Accountability/Responsibility and a Sanction Regime to directly address instances of excess, unapproved and/or arbitrary charges.

The revised Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions takes effect on January 1, 2020.


Well, photos below, show the Sections of the CBN revised guide.

Also, you can see the full 76 page document on CBN's website here:
https://www.cbn.gov.ng/Out/2019/CCD/Guide%20to%20Charges%20by%20Banks%20Other%20Financial%20and%20Non-Financial%20Institutions%20eff%20Jan%201%202020.pdf

Screenshot of part of the circular...

The full document on CBN's website:

https://www.cbn.gov.ng/Out/2019/CCD/Guide%20to%20Charges%20by%20Banks%20Other%20Financial%20and%20Non-Financial%20Institutions%20eff%20Jan%201%202020.pdf