I got this message from my bank, I use a current account. Pls what exactly are they trying to say?
Dear Esteemed Customer,

We wish to inform you that the CBN policy on the removal of COT Charges came in to effect January 2016. Therefore, there will no longer be any COT charge applied on your account.

However, the CBN has also advised Bank's through their circular dated, January 20, 2016 (Kindly find attached), of the implementation of Current Account Maintenance Fee on all current account accounts effective from the 1st of February, 2016.



Also the CBN has directed all banks to commence the charging of N50 on all receipts given by any bank or financial institution in acknowledgement of electronic transfers & teller deposits from N1,000 & above. The CBN also stated that the charges apply to only receiving accounts whilst self-deposits, own account transfers(both intrabank and interbank) and withdrawals/transfers from savings accounts are exempted. The N50 charge which shall apply per customer transaction and not per volume will be remitted to the Nigerian Postal Service(NIPOST) on behalf of the customer by the Bank.



We have also attached a recap on the recent CBN monetary policy communique which held on the 25th & 26th January 2016 for your information.

We thank you for your continued patronage and promise to deliver the utmost in customer service.

cashless policy out of the window! pay cash to me and please do not transfer

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The bank will drop some staff as their profit drops with this policy.

sinkhole:
cashless policy out of the window! pay cash to me and please do not transfer

If big broses attach to collect ham over N50 u go say na the payer set u up abi?

In other words, we are bankrolling Nigeria. I hope it will be a quid pro quo arrangement, where we get to see value for our monies.

ckmayoca:


If big broses attach to collect ham over N50 u go say na the payer set u up abi?

Why should somebody send me #2000 and I will loose #50 when I can completly collect it by hand Sanusi will never do a thing like this, he would have insisted it starts from, say #50,000