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CBN Introduces New Charges On ATM Cards, Cheques - Business (7) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Introduces New Charges On ATM Cards, Cheques (62667 Views)

CBN Introduces New FX Rate For Bdcs / CBN Introduces New FOREX Rates, Dollar Now N360 For "Invisibles" / CBN Introduces New Charges On Bank Deposits And Withdrawals (2) (3) (4)

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Re: CBN Introduces New Charges On ATM Cards, Cheques by SycophanticGoat: 6:44am On Mar 16, 2016
NenweIstson:
He is a bigot, but we shouldn't allow them to defame Igbos without a fight back


That was why I called moderators to ban the guy but instead of banning him, they edited his post which I already mentioned. This is not the first time they are doing this. I called a moderator to ban someone that broke the rule by insulting a nairalander, the mod went on to edit the guy's post and edit mine, removing all the insults from the two post and also removing their names (moderator's names) from my mention.

I trust if it was the other way round, they'd have slammed the person a one month ban. Well I'm not surprised..
Re: CBN Introduces New Charges On ATM Cards, Cheques by Ghost447(m): 6:44am On Mar 16, 2016
If this is true and they go ahead to implement it even in the midst of this excruciating hardship, I decree that this regime shall/must come to a disgraceful and abrupt end 14 days after such implementation.

1 Like

Re: CBN Introduces New Charges On ATM Cards, Cheques by OlujobaSamuel: 6:47am On Mar 16, 2016
it will never be well with you Emefiele, from #65 to this. this is punishing the poor, God will never let you and your co bankers planning this eat the fruit of your labour.
PMB, if this should scale through, your children too will not know peace ooo, why should we get punished just for someone to increase the profit made by his friends. Sack Emefiele now pls.
Re: CBN Introduces New Charges On ATM Cards, Cheques by AleAirHub(m): 6:50am On Mar 16, 2016
Emefiele has successful implemented policies that will enrich him self and his boys in the financial sector...

Since 1900AD Nigeria are very good to cast spell on any outgoing govt, same people that was complaining that GEJ govt is very wick and slow are the one complaining that PMB leadership is hardship...







#Effc & Dss your guys look very proactive now disobeying court orders.... All hands is cross and let us see how this witch hut of your OGA will lead to....
Re: CBN Introduces New Charges On ATM Cards, Cheques by missjahiniekpe(f): 6:51am On Mar 16, 2016
2n2k:


The charges were agreed by the Bankers Committee comprising MDs of all commercial banks. The money goes to the banks as income not the government.

Ordinarily, banks being profit making organization would have loved to just go ahead and charge but they are regulated by the CBN which must approve any tariffs by banks.
The central bank of Nigeria mobilizes fund for and on behalf of the government, please read their functions again..... Why do you think Sanusi's policy to print 5000 naira note was not implemented? Its because the CBN is dependent on the federal government.
Re: CBN Introduces New Charges On ATM Cards, Cheques by Nobody: 6:53am On Mar 16, 2016
Yorubasgreat:
Buhari will finish off this country.. Mark my word..

Before the end of Buhari regime Nigerians must have faced themselves in war.. .

This will never end up well.. I have seen how it will all end..



I accept we have collectively voted seasoned criminals into power..
But, God is this punishment not too much for us..
Pls consider our ignorance and the fact that they lied and deceived us before we voted and have mercy..

Prophetess of doom,can't you guys be positive atleast for once.this is your country,mind what you say with your mouth before it works against you.shalom
Re: CBN Introduces New Charges On ATM Cards, Cheques by Sike(m): 6:55am On Mar 16, 2016
Nigeria jagajaga!
Re: CBN Introduces New Charges On ATM Cards, Cheques by OlujobaSamuel: 6:58am On Mar 16, 2016
hedonistic:
Nigerian banks don't know anything about banking. Sounds counterintuitive but true. Very lazy thieves. The classical way banks worldwide make money by lending depositors funds at a decent interest rate and investing such funds in profitable schemes, supplemented by standard COT for certain transactions. You don't make money by unilaterally dipping your itchy fingers into individuals accounts to collect whatever levies you concoct. This is ridiculous.

Of course Buhari would stay aloof like the soulless Dullard that he is. Such a cold, heartless beast just like his Fulani band of murderous herdsmen. Jonathan was a listening president and he would have never allowed such an obnoxious policy to stand after receiving feedback on the hardship it will inflict on poor Nigerians.
pls this thing is not political but some useless businessmen trying to get where they never reap. #65 was introduced under Gej, they will always have a way of bringing some nonsense on the table.
If pmb no want make him things dey dabaru for him life, make he beta override this like devaluation too.
am almost crying waking up to read this.
when some NGO promoted no banking day, we cared less, only concerned about ourselves, thats why one greedy fellow can wake up to give us this, those nonsense NLC, NANS, ASUU/ASUP, NMA, NBA, etc won't come out to protest now. all una things go dey disappear for your eyes ni.
cursingmodeactivated.
Re: CBN Introduces New Charges On ATM Cards, Cheques by Yorubasgreat(f): 6:58am On Mar 16, 2016
kevinscore:


Prophetess of doom,can't you guys be positive atleast for once.this is your country,mind what you say with your mouth before it works against you.shalom


OK...
So you want me to lie and not say it exactly the way it appears to me, right?

Bad things happens to countries that have refused to hear the cry of its citizens...Nigeria can't be exception.
Until our leaders wakeup...the treats are very viable..
Re: CBN Introduces New Charges On ATM Cards, Cheques by Nobody: 6:58am On Mar 16, 2016
Monkey dey work Baboon dey chop.
Re: CBN Introduces New Charges On ATM Cards, Cheques by Acidosis(m): 7:02am On Mar 16, 2016
This government is fraudulent.


If the government is broke, what stops them from recovering the looted funds and figures they throw on the pages of newspapers?

You claim someone stole N1tr today, and then tomorrow you come after the masses to rob them.
Re: CBN Introduces New Charges On ATM Cards, Cheques by donem: 7:03am On Mar 16, 2016
For those not really sure of the purpose of the 100 naira monthly charges; °It's a fine for voting a dullard°
Re: CBN Introduces New Charges On ATM Cards, Cheques by emmykk(m): 7:04am On Mar 16, 2016
Decibel:
Wailers gonna wail wink
you still dwy eat mama thank you
Re: CBN Introduces New Charges On ATM Cards, Cheques by Yusuphpedro: 7:04am On Mar 16, 2016
hope4charles:

You have a point, seriously we should transfer our complains to the body involved, but hope you know the federal government have a role to play to, they can equally draw their attention to the complaints of the populace.
still a proposal it could be accepted or rejected by the government
Re: CBN Introduces New Charges On ATM Cards, Cheques by Nobody: 7:08am On Mar 16, 2016
Absolutely pathetic!
Re: CBN Introduces New Charges On ATM Cards, Cheques by Ghost447(m): 7:08am On Mar 16, 2016
seunmsg:


What will Buhari benefit from ATM card charges?

Is the charges going into the coffers of government or the banks?

Just like I said on a thread earlier today, we apportion blames based on sentiments and emotions instead of common sense and pragmatism. Instead of calling out the greedy banks and their CBN collaborators, most of you are shouting Buhari. What has Buhari got to do with this?
Just look at yourself!. CBN belongs to which arm of government? Who give orders to CBN Governor? Who regulates commercial banks? Or were you born in the year 2000?
Re: CBN Introduces New Charges On ATM Cards, Cheques by yjgm(m): 7:12am On Mar 16, 2016
Ratello:

Why Emefiele? This same man served under Jonathan and nothing like this happened......this is about Buhari leave it or take it.
Emefiele started this under Jonathan. He introduced the N65 charges after the 3rd transaction on other banks atm. Even the stamp duty was legislated and made a law under Jonathan. This is totally unacceptable even under Buhari.
Re: CBN Introduces New Charges On ATM Cards, Cheques by jesse515: 7:12am On Mar 16, 2016
seunmsg:


What will Buhari benefit from ATM card charges?

Is the charges going into the coffers of government or the banks?

Just like I said on a thread earlier today, we apportion blames based on sentiments and emotions instead of common sense and pragmatism. Instead of calling out the greedy banks and their CBN collaborators, most of you are shouting Buhari. What has Buhari got to do with this?

U wud go to any lenght/ wicked dept in reasoning just to defend ur pay master. Ur hypocrisy is Laughin at u. N ur wickedness will clap bak. So d "technical defeat " of BH is not d hand work of PMB it's d hand work of Buuratai? We can also rightly say d fuel scacity is a fault of kachikwu not pmb.

Just continue lookin for hu to blame except d culprit

1 Like

Re: CBN Introduces New Charges On ATM Cards, Cheques by ajadematanle: 7:13am On Mar 16, 2016
Bioboy1213:

Was it not Emefiele under Jonathan that brought back N65 on ATM that used to be free under Sanusi.He is there to protect his God father Jim Ovia and other banks.But a responsive govt.should have shielded her citizens from this stealing called charges.

1 Like

Re: CBN Introduces New Charges On ATM Cards, Cheques by Achorise: 7:16am On Mar 16, 2016
Do we even have leaders in this country? we a have a boss @ every political appointment.
Re: CBN Introduces New Charges On ATM Cards, Cheques by udysweet(f): 7:19am On Mar 16, 2016
Hahahaha,this got me. Infact you cldnt hav said it any beta,lol! Abg u sabi any shortcut to use tak up residency for anoda country? Evn ghana for mak sense small before peson dey tink europe and or america. Gosh my heart falls each time I see tins happening and we're jus in d 1st lap,by the timme dey get to d last lap,I hope pple will still be alive in nigeria. Pls am not a supporter of any party o,but I honestly am not happy abt wats goin on now,its depressing. God pls come and help naija or jus come and end the world mbok!
princemillla:
Why is living in one's fatherland now more expensive than overseas.?

U pay tax
Pay 100 on atm every month
Pay 65 naira on atm in other banks
Pay 170 naira on every online transactions to other banks (105 and 55 naira)
Pay 50 naira bank stamp

Police go stop u for road u pay minimum 1k

Area boys go hail u, u pay 500.

Armed robbers go still come sweep the entire purse.

Maka why na
Re: CBN Introduces New Charges On ATM Cards, Cheques by amazingspiderma: 7:21am On Mar 16, 2016
Martins301:


Godwin Emiefele is a thief. You said my mind 100%. The worst part is he is an Igbo man. Very greedy and selfish people. Sanusi didn't do this rubbish and he wasn't Igbo.
such proposal cannot be imposed on citizens without approval of the government.
Re: CBN Introduces New Charges On ATM Cards, Cheques by Igwe9(m): 7:25am On Mar 16, 2016
Martins301:


Godwin Emiefele is a thief. You said my mind 100%. The worst part is he is an Igbo man. Very greedy and selfish people. Sanusi didn't do this rubbish and he wasn't Igbo.

Dumb ass man, Does he take unilateral dicision, when Sanusi proposed the N5k note for easy movement of funds, didn't Gej stop him, when Soludo proposed multiplication of naira value by 0.01, didn't Yaradua stopped, instead of you to prevail on Buhari to stop him, you are displaying an ethnocentric idiocy

High electricity tarrif was also imposed by an Igbo man? if he is not representing the interest of the APC lead administration, someone would have called him to order.

Instead of us to unite and fight this menace of administration we have, we all are here displaying our bigotry making it easier for them to strive. Irrespective of how allegedly corrupt Gej was, he never stolen from poor to feed the rich, and he was coming up with situations that will make it virtually impossible for the rich to steal.

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Re: CBN Introduces New Charges On ATM Cards, Cheques by pingjosh(m): 7:25am On Mar 16, 2016
Dey av not fixed the bank charges yet na ATM be their priority
Re: CBN Introduces New Charges On ATM Cards, Cheques by 2n2k(m): 7:27am On Mar 16, 2016
missjahiniekpe:

The central bank of Nigeria mobilizes fund for and on behalf of the government, please read their functions again..... Why do you think Sanusi's policy to print 5000 naira note was not implemented? Its because the CBN is dependent on the federal government.

Are you giving a lecture on the functions of CBN or commenting on the specific issue of bank charges which the thread is about?

Bankers Tariffs are incomes to the banks not to CBN or Government. They were usually reviewed yearly in the past but of recent, the review has changed to every 3 years. It is co-ordinated and regulated by CBN so that there will be uniformity in bank charges nationwide.

The document on latest 2016 tariff (still at exposure stage) which will replace the 2013 version from where the OP extracted what caught his fancy is actually 68 pages containing all bank charges even for smiling at a beautiful cashier smiley.

You can download it from the CBN website and challenge your bank if it wrongly charges you.
Re: CBN Introduces New Charges On ATM Cards, Cheques by onunwa21(m): 7:27am On Mar 16, 2016
Do you still remember this words?

"I am the most abused and insulted president in the world, but when I leave office you will all remember me for the total freedom you enjoyed under my government".

Goodluck Ebele Azikiwe Jonathan

2 Likes

Re: CBN Introduces New Charges On ATM Cards, Cheques by princemillla(m): 7:30am On Mar 16, 2016
udysweet:
Hahahaha,this got me. Infact you cldnt hav said it any beta,lol! Abg u sabi any shortcut to use tak up residency for anoda country? Evn ghana for mak sense small before peson dey tink europe and or america. Gosh my heart falls each time I see tins happening and we're jus in d 1st lap,by the timme dey get to d last lap,I hope pple will still be alive in nigeria. Pls am not a supporter of any party o,but I honestly am not happy abt wats goin on now,its depressing. God pls come and help naija or jus come and end the world mbok!



Kikikikikikikiki at the bold grin

Try Niger or togo am sure u ll make a perfect citizen there cheesy
Re: CBN Introduces New Charges On ATM Cards, Cheques by bishop4life(m): 7:30am On Mar 16, 2016
seunmsg:


What will Buhari benefit from ATM card charges?

Is the charges going into the coffers of government or the banks?

Just like I said on a thread earlier today, we apportion blames based on sentiments and emotions instead of common sense and pragmatism. Instead of calling out the greedy banks and their CBN collaborators, most of you are shouting Buhari. What has Buhari got to do with this?


Bros, are you this dumb?
Re: CBN Introduces New Charges On ATM Cards, Cheques by zenith2k9: 7:34am On Mar 16, 2016
I think at this juncture, we all Nigerians have to say NO to this unfriendly policy. With the rate CBN is churning out policies, we might arrive at a point when we d citizens will practically b financing the Banks.
Re: CBN Introduces New Charges On ATM Cards, Cheques by tonquendo4u(m): 7:36am On Mar 16, 2016
What's all these nah?so d govt wants to start robbing us for nothing?these charges are much biko
Re: CBN Introduces New Charges On ATM Cards, Cheques by camelus: 7:36am On Mar 16, 2016
baebae:
The Central Bank of Nigeria (CBN) has proposed a N100 monthly chargeon every debit card (ATM card) in the country.
The new charge is separate from the existing N65 charge after the third withdrawal within the same month.

A monthly maintenance fee of N100 was also proposed every month for anaira dominated debit card when used, and a N50 charge for other months when the card is used or not.
In its draft on the“guide to charges for banks and other financial institutions in Nigeria”, CBN has alsoproposed a N4,200-per-annum charge on foreign currency denominated cards as maintenance fee.

The apex bank has also proposed a N50 charge on every cheque leaflet obtained and used at the deposit money bank’s counter, The Cable reports.This is not the same as the collectioncharge on cheques, which is also proposed to be“one percent of cheque value or Naira equivalent of US $10 whichever is lower”.

The circular, signed by Kevin Amugo, director financial policy and regulation department, stated:

“The Central Bank of Nigeria is currently reviewing the extant Guide to Bank Charges, which came into effect on April 1, 2013,”

“The review, which is in line with the philosophy of periodically ensuring that the provisions of the guide accord with current realities, also seek to address complaints from customers of financial services, requests for clarification on provisionof the guide and absence of a tariff regime for other financial institutionsin Nigeria.

source
https://www.naij.com/765237-cbn-introduces-new-monthly-charge-atm-cards.html?_e_pi_=7%2CPAGE_ID10%2C1350216675

Fashola pattern of RULING Lagos.
This one na Nigeria oni baje o, NIgeria no go spoil!
Re: CBN Introduces New Charges On ATM Cards, Cheques by bot101(m): 7:38am On Mar 16, 2016
davidphilip:




I know most people don't pay tax and dey know dem selves here so it a way of milking it out of deir acct, but still let hope on the money being used properly to benefit everyone

Stop being sentimentally stupid, taxation is never a flat rate. Note also that everybody have always paid tax in Nigeria. If you do not know how we have always been taxed, you should have just asked instead of displaying your ignorance here.

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