BEVERLY HILLS, February 23, (THEWILL) – Bank customers will pay more charges for cash transactions above set limits when the new rule announced Thursday by the Central Bank of Nigeria (CBN) becomes effective on April 1, 2017.
A circular distributed to banks by the CBN, which was obtained by THEWILL showed the reinstatement of charges on deposits above 500,000 naira for individual accounts, while charges on withdrawals above limits for both individual and corporate accounts as well as deposits into corporate accounts were revised.
See circular:
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