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Nairaland Forum / Nairaland / General / Business / CBN Introduces New Charges On Bank Deposits And Withdrawals (54345 Views)
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Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Opistorincos(m): 7:30am On Feb 24, 2017 |
Shey these ones are mad ni, I'll start keeping my money in pots |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by frankeencense(m): 7:30am On Feb 24, 2017 |
unclezuma: I find this funny ![]() ![]() |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by joespiceman(m): 7:30am On Feb 24, 2017 |
Na WA oo for our country oo. By the way way lemme check if that my grandfather's pot is okay. I don port to old days o |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by pat077: 7:31am On Feb 24, 2017 |
Cashless fire. Is it thier money? |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by dsoja: 7:32am On Feb 24, 2017 |
This is absolute nonsense. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Nobody: 7:33am On Feb 24, 2017 |
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.... 1 Like |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Saint52(m): 7:33am On Feb 24, 2017 |
CBN why on my birthday ?.... |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by coolsegun2002: 7:34am On Feb 24, 2017 |
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. 2 Likes |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by AdigunOAP: 7:34am On Feb 24, 2017 |
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/[/quote] |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Nobody: 7:40am On Feb 24, 2017 |
They sleep, wakeup and formulate stupid policies without thinking of the people. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by mranova(m): 7:42am On Feb 24, 2017 |
Why won't people stack their cash in over head tanks? |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Nobody: 7:44am On Feb 24, 2017 |
989900: But hope you would add the percentage to the tailor and mechanics fee, as he is and end user and must withdraw the money sent to him. 2 Likes |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by zoedew: 7:44am On Feb 24, 2017 |
CBN Policies need to go beyond its apparent struggles to keep banks afloat to balancing such interests with that of SMEs and Manufacturers. Banks in Nigeria over the years have little to show for depositors' funds they hold. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by nobsalis: 7:44am On Feb 24, 2017 |
na today withdraw 499K daily na.......: till d day i gt d complete amount i need 3 Likes |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by alezzy13: 7:45am On Feb 24, 2017 |
Why are you all complaining? ITs the best policy that would help tackle corruption and armed robbery. GO CASHLESS!! My only grouse is the exemption of some agencies, especially federal ones. It doesnt make sense. If anything, the cashless policy should START from them. 4 Likes 1 Share |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by HAH: 7:45am On Feb 24, 2017 |
If you are not ok with the policy keep your money at home at your own risk, do you think you are doing anyone favour, well the person you are doing favour are robbers that will rob your house 3 Likes 1 Share |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by 989900: 7:46am On Feb 24, 2017 |
sunshyne20: What percentage? You don't get the drift. 1 Like |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by ZTEN(m): 7:48am On Feb 24, 2017 |
Ha See GOBEEE ![]() |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by mjay(m): 7:48am On Feb 24, 2017 |
Groping in the dark, trial and error is all equal to cluelessness. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by HAH: 7:49am On Feb 24, 2017 |
alezzy13:the exemption for agencies are for accounts that receive revenues from public which is logical, because there may be 1000 deposits in a day by different people, govt accounts have since 2008 being on the basis of epayment and no cash withdrawals |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by theway83: 7:49am On Feb 24, 2017 |
CBN didn't know what's the next do again |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by DonCortino: 7:51am On Feb 24, 2017 |
And dem dey condemn mmm! ![]() |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by directonpc(m): 7:52am On Feb 24, 2017 |
989900:who gives a fck about ur business? |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Sankabson(m): 7:53am On Feb 24, 2017 |
This is not the best time to bring this rubbish policy in. Well, Buhari government never seize to amaze me! The best way is to be hoarding cash at home and office, which is very risky too. God help this country!!! Sanusi.. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Nobody: 7:54am On Feb 24, 2017 |
989900: I do, as these tailors and mechanics are small business owners with basically less than a million as capital base, so they would be affected as well and much. So this policy would be perfect if it also exempts SMEs as well, Or include all federal agencies, revenue generating or not. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Khris3(m): 7:55am On Feb 24, 2017 |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by nnofaith: 7:56am On Feb 24, 2017 |
To cement this new policy, the CBN needs to withdraw N1,000 and N500 notes from circulation immediately. 2 Likes |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by newyorks(m): 7:56am On Feb 24, 2017 |
the percentage much na,if u hustle ur money bank go come divide am with u again sake of say u dey bank. |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by piagetskinner(m): 7:57am On Feb 24, 2017 |
Na to de keep money under bed...no charges there |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by airminem(f): 7:59am On Feb 24, 2017 |
rose54321: |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by ip2121918021(m): 7:59am On Feb 24, 2017 |
nnofaith: IF they withdraw 1k and N500 notes, wetin go remain ![]() ![]() |
Re: CBN Introduces New Charges On Bank Deposits And Withdrawals by Jumbus31(m): 8:01am On Feb 24, 2017 |
CBN gradually turning into ponzi scheme. 1 Like |
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