From now on, all customer initiated debit transactions will be subjected to a fee not exceeding One Naira (1.00 NGN) per One Thousand Naira (1,000 NGN) transacted from a customer’s current accounts.
 
This is in line with the Central Bank of Nigeria’s latest circular recommendations to all Banks to implement provisions in the Revised Guide to Bank Charges (RGBC), which proposes a negotiable maintenance fee on current accounts.

So after eliminating COT from Current Accounts, they (CBN) now brought another form of COT (negotiated maintenance fee) to pacify the banks.

COT was 1naira per mille.
Negotiated maintenance fee should not be more than 1naira per thousand.

So wetin come be the difference??
They wan carry grammer deceive us.

Chaii.....Naija current account holders have suffered.

why are these people extorting us lyk this.

Whats wrong with this CBN governor naaaa? releasing policies like say tomorrow nor de craseman

CBN governor is definitely clueless .

He keeps bringing new policies 2- 3 times a week.

puskin:
So after eliminating COT from Current Accounts, they (CBN) now brought another form of COT (negotiated maintenance fee) to pacify the banks.

COT was 1naira per mille.
Negotiated maintenance fee should not be more than 1naira per thousand.

So wetin come be the difference??
They wan carry grammer deceive us.

Chaii.....Naija current account holders have suffered.

Sincerely, what came to my mind when I saw the circular was that CBN just reintroduced COT through the "backdoor".

I may be wrong, but apparently, some banking big wigs have lobbied CBN and possibly, Bankers' Committee

I saw something like this coming from the messenger governor since the mercenary can not openly cancel Sanusi's well thought out policy.

Its high time i become my own banker.

If i deposit problem,if i withdraw problem.They just want to collect my hard earn money.

Its high time i become my own banker.

Hmmmm

They cancelled COT to bring up this, what sense does it make?

Noted!

The day CBN start this stuff on savings account, I will join my friend Emeka to keep money inside vault and his in my house.

In fact, I won't allow cash deposits into my account. Na pay on delivery as from now.

To loose your tummy fat, click my profile to see live testimonies

It will still be manipulated by the same CBN

Well, to me, one naira on a thousand ain't that much.

too much.Just too much

but we were promised zero COT in 2016. what is this pls?

Juma'at kareem to ol my Muslim brodaz nd sistaz
Muslims are not terrorist.....
To ol doz quoting me... Please stay off my mentionZ
M entitled to my opinion.... Tnx

If the masses did not get credit for the oil boom in the past years, why is the APC led government making the masses pay so hard for the dwindling oil value. Buhari! Buhari!! Buhari!!!

The 1 + 50(stamp duty)

What is the essence of cancelling COT in the first place, when they have intention of introducing a back door charges!.....


It is well

Beginning of the end for cashless economy.



If you can instruct online...see my signature.

How e take concern me?

Truly the banks are in crisis, all these policies are just to cover them but are they aware they may be killing the cashless policy?

puskin:
So after eliminating COT from Current Accounts, they (CBN) now brought another form of COT (negotiated maintenance fee) to pacify the banks.

COT was 1naira per mille.
Negotiated maintenance fee should not be more than 1naira per thousand.

So wetin come be the difference??
They wan carry grammer deceive us.

Chaii.....Naija current account holders have suffered.

Banks are not charity organisations so their services shouldn't be free. N1/mille or per thoussand is d same thn and a fee of N1 is not out of place. If its too much for anyone, that person do his/her biz without involvn d bank.

Hmmmmm

They dont know what the are doing...

I hope this money will not end up in FG pocket because they have stolen enough.

See what we are suffering in January. There is God o

This is COT under a new name! We phased out COT in stages in 3 years and we brought it back again.

I knew they weren't going to just eliminate COT without some form of pacification for the banks.

Add the N50 bank charges on transfers...

1# per mille is OK. Bank is purely for serious minded business people. If can't pay 1# , keep your money under your bed. No story!!