CBN don suspend charges on top cash deposits reach September 30, 2024.
CBN yarn dis one for circular wey dem sign on May 6, 2024, by Adetona Adedeji, wey be CBN director of banking supervision.
On May 1, banks start to collect processing fees on top cash deposits again. Based on the order, dem bin dey charge 2 percent on top deposits wey pass N500,000 for individuals, while corporate account holders dey pay 3 percent on top deposits wey pass N3,000,000.
Based on the new circular wey CBN give financial institutions and non-financial institutions, dem talk say make dem suspend the processing fees.
“Make you refer to our letter wey dem date December 11, 2023, wey dem reference as BSD/DIR/PUB/LAB/016/023 on top the matter wey we talk, wey suspend processing charges wey dem bin dey impose on top cash deposits wey pass N500,000 for individuals and N3,000,000 for corporates like we talk for the “Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions” wey we issue for December 20, 2019,” CBN yarn.
“Central Bank of Nigeria (CBN) don extend the suspension of the processing fees of 2% and 3% wey dem bin dey charge on all cash deposits wey pass these limits reach September 30, 2024.”
CBN still direct financial institutions make dem continue to accept all cash deposits from the public without any charges reach the end of the third quarter.
Source: NaijaChoice
