Ifeanyi Onuba , Abuja


The Central Bank of Nigeria on Tuesday said that the nationwide implementation of the cashless policy will begin by March 2020 .

The apex bank said this in a circular to all Deposit Money Banks in the country .

It said that implementation of the policy would signal the imposition of charges on deposits in addition to already existing charges on withdrawals.

According to the circular , the charges , which take effect from Wednesday , September 18 , 2019 , will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N 500 , 000 for individual accounts .

For corporate accounts , the apex bank in the circular said that DMBs would charge five per cent processing fees for withdrawals and three processing fee for lodgments of amounts above N 3, 000 ,000 .

The statement , however, disclosed that the charge on deposits would apply in Lagos , Ogun , Kano , Abia , Anambra , and Rivers States as well as the Federal Capital Territory .

It added that the implementation of the cash -less policy would take effect from March 31 , 2020 .

https://punchng.com/cbn-imposes-fees-on-deposits-withdrawals/


lalasticlala

Trying to encourage cashless indeed, I use my mobile banking app to pay for services, the bank will charge me. I transfer money through my mobile bank app to another bank, the bank will still charge me. I pay for Dstv/cable TV, NEPA bills etc through my bank mobile app, the bank will still charge me. Then how are they Bleep*** encouraging cashless policy.

They just increase VAT, and now, they want to introduce another form of obtaining. I just have one word, "CRIMINALS" in capital letters.

What these people failed to realize was that our e-banking is still at infant stage!

Many times my bank app have failed me even today!

I know what I passed through in the hands of UBA today before everything restored to normal after many hours of service disruption

As I type right now, I have a failed card payment on Friday which my bank says it will be rectified in 15 banking days which is 3 weeks normal calendar, what if that's the only amount of money on my account & what I intend to use it for can't wait till following day? My money hanged between merchant & my bank although merchant confirmed they never received any money of which my bank also certified but they still insist my money will be refunded to my account in 15 working days!

Not that am against cashless policy but at least stabilize the system, current system is bullshit!

People at the helms of affairs of our financial sector are amateur when it comes to e-banking, Nigerian banks are still at infant stage of e-banking, the system is really messed up! make it work perfectly before you impose any rubbish on Nigerians!

I'm just so happy because all of us are in this together.





This Next Level will be too gbaski

Animal talk,for you to make naira equal to one dollar you can't do it.wot u only do is to implement cheap ad nonsense policy dat is Anti people well Biafra is coming soonest

As far as say no be by force to use bank...no wahala

Na wahooooo. Am here waiting for that time.
May God keep me alive till then.

BeeBeeOoh:
I'm just so happy because all of us are in this together.





This Next Level will be too gbaski

We're in it together o


ATM charges


Online transfer charges


Check book charges


VAT increment everywhere


They should kill us na

lol
they tried it b4.
it failed woefully.
d infrastructure is much worse now.
many businesses will lose their margins.
wen rage is visited on emefiele, he'll learn.
for now, tighten ur belt.
or jet out.

daddytime:
As far as say no be by force to use bank...no wahala