The Central Bank of Nigeria has extended the cashless policy on withdrawals and deposits to 30 more states over the nation.
This resolution was taken at the Bankers' Committee 493rd meeting hung on Tuesday.
A roundabout issued toward the finish of the meeting, noticed that charges on deposits and withdrawals had been reintroduced.
According to the circular, a person who deposits or withdraws below N500,000 would not be charged.
In any case, any deposit above N500,000 draws in 1.5% charge, while withdrawals pull in 2%.
The round further included that withdrawals above N1m pull in 3% charges; deposit above same sum draw in 2% charges, while activities above N5m draw in 3% and 7.5% separately.
Additionally, any corporate body that deposit under N3m would not be charged but rather withdrawals and stores above N3m to N40m pull in 2% – 10% charges separately.
As per the round marked by Dipo Fatokun, Director, Banking and Payments System Department, the charges would produce results from April 1, 2017 in the current cashless state, including Lagos, Ogun, Kano, Abia, Anambra, River and Abuja.
"The approach might be actualized with the charges producing results on May 1, 2017 in the accompanying state: Bauchi, Bayelsa, Delta, Enugu, Gombe, Imo, Kaduna, Ondo, Osun and Platuea.
"The approach might be actualized with charges producing results on August 1, 2017 in the accompanying states, Edo, Kastina, Niger, Oyo, Adamawa, Akwa-Ibom, Ebonyi, Taraba and Nasarawa."
The state additionally included that the approach would likewise produce results in Borno, Benue, Ekiti, Cross River, Kebbi, Kogi, Yobe, Sokoto and Zamfara States from October 1, 2017.
Fatokun included that the pay created from charges would be shared between the CBN and the banks in the proportion of 40:60.
"All banks are to guarantee that their cashless groups in the influenced states liaise legitimately with the cashless office in the CBN for fundamental and further help, if required," the roundabout included.
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