HAH:
Good policy, transactions should be cashless in this days and time.

The CBN is even lenient to take it upto 500k with charges, left to me is outright ban, this has already happened in India a country of over 1.2billion people

Use your internet banking, mobile banking etc for transaction even if it is over 1 billion no one will charge you kobo.

Only criminals that want money trail to end that demand cash paymennt, eg drug deal, kidnapping, bribes etc

Personally I only use cash when I go to local market, everything is POS, Internet or mobile banking, with this you can easily audit my personal accounts

basty:
CBN why now?

frankobaba:
CBN una Fadá...

PONZI SCHEME

PONZI CBN

eezeribe:


Mobile and Internet transfer still attract charges and have daily limits. Moreover,when there is a transaction error,the banks deliberately refuse to revert it and sometimes you would have to complain for more than a month.

You don't know much about Nigeria.

coolsegun2002:
There's always a perfect plan and policy in place to take money from us...

why can there just of a perfect plan as well to give back to us inform of stable electricity, good road, water..etc...

this is not a government ....this is a parasite... and parasites usually kills the host....
But don't worry government cos the parasites will eventually die when the host dies.

#theres really no government when there's no pple to rule.

ip2121918021:


IF they withdraw 1k and N500 notes, wetin go remain

basty:
CBN why now?

unclezuma:


It was written in the 40's and talks about a future when the government is ruled by unseen leader called Big Brother and lies like there's no tomorrow.

iluvdonjazzy:
CBN reintroduces charges on cash deposits, withdrawals
Published February 24, 2017
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by Taboola
Akinpelu Dada
The Central Bank of Nigeria on Thursday announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals.
This came about three years after the apex bank stopped the charges.
In a circular to all Deposit Money Banks posted on its website, the regulator said the decision to reintroduce the charges on cash deposits was part of the review of charges on deposits and withdrawals under the cashless policy .
It said the decision was taken at the Bankers’ Committee meeting , which held in Abuja two weeks ago.
The circular , signed by the Director, Banking and Payments System Department, CBN, Mr . Dipo Fatokun, stated that the committee decided that the cashless policy should be extended to the remaining 30 states of the federation.
It also directed that with effect from April 1 , 2017, banks in the states where the cashless policy was already operating , Lagos , Ogun , Anambra , Abia, Kano , Rivers and the Federal Capital Territory , would begin to impose charges on deposits and withdrawals above N 500 ,000 .
Banks will from that date begin to charge individuals 1 . 5 per cent and two per cent for deposits and withdrawals between N 500 ,000 and N 1 m .
According to the circular , individuals depositing or withdrawing between N 1 m and N 5 m will be charged two per cent and three per cent, respectively.
For amounts above N 5 m , banks will charge such individuals three per cent and 7 . 5 per cent for deposits and withdrawals, respectively.
With regard to corporate customers, the CBN stated that deposits and withdrawals under N 3 m would not attract any charge , but that such customers depositing or withdrawing between N 3 m and N 10 m would be charged two per cent and five per cent, respectively.
Also for deposits and withdrawals between N 10 m and N 40 m , customers will be charged three per cent and 7 . 5 per cent, respectively . Deposits or withdrawals above N 40 m by corporate customers will attract a charge of five per cent and 10 per cent, respectively .
According to the CBN , the new policy on charges will be implemented in selected states on May 1 and August 1 , this year ; while the total implementation will be concluded on October 1 .
The regulator noted that the committee agreed that income generated from the processing fees above the allowable cash limits would be shared between it and the banks in the ratio of 40 : 60 .
However, the CBN said that existing exemptions to the policy such as revenue generating agencies of the federal , state and local governments (for lodgements ) will be sustained . Also exempt from the processing fees are embassies , diplomatic missions , multilateral and aid agencies.
The CBN directed lenders to train their employees to enlighten customers on the new policy .

http://punchng.com/cbn-reintroduces-charges-cash-deposits-withdrawals/

directonpc:
who gives a fck about ur business?

SIRmanjar:
Why enough northern states no dey dat list?So na southern states dem wan use shine now abi?If na to share money now or federal appointment dem states go top dat list..Confused country.

ghostmist:
So, if i am to withdraw 100 million of my hard earned money, i would be forced to part with 10 million?

Thunder where are you? there are some people you need to fire...

Zubbycol:
This is a very clueless policy indeed. We are trying to achieve a cashless policy, yet you are charged for making deposits which actually helps reduce the cash in circulation. If i will be charged for taking my Money to the bank, why take it to the bank?

I wonder if they think properly at all. How do u encourage the cashless policy if after making cash sales, I can't deposit my money in a bank because of bank charges? Abeg make una go think am over again joor!

gocac:
this is another ploy by Buhari to deal with the south.... no single northern state is included. useless Govt and CBN.. as You increase the suffering of Nigerians.... God will keep you lying down in your London Aso rock idiot....