₦airaland Forum

na wa o

ok

really

huun

maynation: Yoruba is Taking over

ok

APC OOOOOO

lets join our faith with this two great people of God that God with streghnten them in this trial time that they are facing,
God bless you all

very funny

REALLY

joshua8016: [img]http://2.bp..com/-is0zXopCKp0/U_iGRVqd7vI/AAAAAAADY7M/hSXyVzBYKpk/s1600/2.jpg[/img]

[img]http://1.bp..com/-FEAy7jovklo/U_iFlDffBfI/AAAAAAADY68/a1iugDDfnac/s280/1.jpg[/img]

This happened this morning
somewhere in Lagos, someone cced me on Twitter. Well done citizens :-)

good of u

abeg make u na talk another thinh jare

Yungwizzzy: Is this an achievement??


tissue paper??


while Chinese kids making tecno android phones!!

so funny

God will help him

Mckennedy: AFRICA HAS TALENTED PEOPLE BUT DUE TO GREED AND BAD GOVERNANCE AFRICANS ARE NOT SUPPORTED TO PROVE THEIR SKILLS..

U.S govt is very funny...

Congrat

PAYPAL HAS LIFTED THE LIMIT TO RECIEVE ON YOUR NIGERIA PAYPAL ACCOUNT
CONGRATULATION TO NIGERIA PAYPAL USERS AND ONLINE ENTREPRENEUR......
CHECK THIS LINK TO LOGIN BELOW FOR VERIFICATION
https://www.paypal.com/uk/webapps/mpp/home

this u.s is a sick country

if u disagree click like

The Central Bank of Nigeria (CBN) yesterday directed deposit money banks in the country to re-introduce a charge of N65 per transaction on remote-on-us Automated Teller Machines (ATMs) cash withdrawals.
The policy takes effect from September 1, 2014.

Remote-on-us are transactions done by a card holder on another bank’s ATM. The central bank stated this in a circular addressed to all banks, dated August 13, 2014.

A circular of the document titled: “Circular on the Introduction of Fees on Remote-on-Us ATM Withdrawal Transactions,” signed by the Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, was posted on the regulator’s website yesterday.

The CBN in collaboration with the Bankers’ Committee had in December 2012 transferred the payment of N100 remote-on-us ATM cash withdrawal transactions to issuing banks. This fee used to be shared between the acquirers, issuers and switches.

However, on the commencement of the arrangement in December 2012, banks (issuers) decided to waive the issuer fee (N35), which should have ordinarily been an income to them. Consequently, banks only bore the cost of N65 each time their customers use another banks’ ATM.

However, the central bank explained that it took the latest decision as a result of the unintended consequences on banks. This, it said had resulted in substantial cost burden incurred by banks in defraying the cost for the service.

According to the CBN, the re-introduction of the fee was to cover the remuneration of the switches, ATM monitoring and fit-notes processing by acquiring banks.

“The new charge shall apply as from the fourth remote-on-us withdrawal (in a month) by a card holder, thereby making the first three remote-on-us transactions free for card holders, but to be paid for by the issuing bank.

“September 1, 2014 shall be the effective date for the implementation of the new fee,” it added. To this end, it urged banks to conduct adequate sensitisation of their customers on the policy.

“All ATM cash withdrawals on the ATM of issuing banks shall be at no cost to the cardholder,” it explained.

Meanwhile, in a separate circular on the review of the operation of the NIBSS Instant Payment (NIP) system and other electronic payment Options with similar features, the CBN expressed its preparedness to further strengthen the risk aversion measures put in place for the operations of the NIP system and other electronic payment options.

“The CBN has directed the categorisations of online transfer from low security to highly secured transfer with specified limits. Banks are expected to achieve “Highly Secured Online Funds Transfer” status within six months, that’s, with a deadline of December 2014.

“Limits of N1 million (instant value) and N10 million (next day value) shall be applied for NIP and other electronic payment options with similar features, initiated by individuals with effect from 18th August, 2015,” it stated.


Source : http://www.thisdaylive.com/articles/cbn-reintroduces-charges-on-cash-withdrawals-on-other-banks-atms/186280/
(Quote) (Report) 1 Like
Re: CBN Reintroduces N65 Charges On Cash Withdrawals On ‘other Banks’ Atms by tshegs19(m): 3:03am




Inconsistency always the problem in Naija. No continuation of any policy soon as power change hands.

Am also expecting the new IG of Police to come around and do his own crazy policy to mess up the good works of his predecessor. Maybe he will return the boys back to the road too who knows. sad


Another season of long and crazy queue to return to the ATM machines. As most people will be wary of using another bank's ATM.

GTBank customers, sorry in advance. grin.......with their 10Billion customers (effects of zero account balance).