Whilst we are battling recession Nigeria and her Elites are cooking different means to take away money from her citizens. Nawa naija which way. Below is new directive as the nation goes cashless.

My only question now is it by force to go cashless.

line with the recent directive of the Central Bank of Nigeria (CBN), please be informed that the Cash-less policy has been reviewed further.
Processing charges on cash deposits will be applied on transactions which are above the stipulated limits. These have been revised as follows:



TRANSACTION AMOUNT

APPLICABLE RATE ON DAILY DEPOSIT

APPLICABLE RATE ON DAILY WITHDRAWAL

Individual

Less than or equal to N500,000

No Charges

No Charges

Above N500,000 - N1m

1.50%

2%

Above N1m - N5m

2%

3%

Above N5m

3%

7.50%

Corporate

Less than or equal to N3m

No Charges

No Charges

Above N3m - 10m

2%

5%

Above N10m - N40m

3%

7.50%

Above N40m

5%

10%



Furthermore, the charges will be applied on the cumulative withdrawal/deposit on all customer accounts per bank, regardless of the channel of deposit/withdrawal and will be implemented accordingly in the following states of the Federation:

S/No

States

Go-Live Date

1

Lagos, Ogun, Kano, Abia, Anambra, Rivers and the FCT

1st April, 2017

2

Bauchi, Bayelsa, Delta, Enugu, Gombe, Imo, Kaduna, Ondo, Osun and Plateau

1st May, 2017

3

Edo, Katsina, Jigawa, Niger, Oyo, Adamawa, Akwa-Ibom, Ebonyi, Taraba and Nasarawa

1st August, 2017

4

Borno, Benue, Ekiti, Cross-River, Kebbi, Kogi, Kwara, Yobe, Sokoto and Zamfara

1st October, 2017

Source: https://www.zenithbank.com/LiveCashless.aspx

BULLSHIIT, WHEN EVEN TO OBTAIN POS FROM STUPID BANKS FORE BUSSINESS IS LIKE GOING TO HEAVEN

First few lines means no matter how many accounts you get.. you can't escape the charge they will sum all your withdrawal for that day and remove the charge.

Next line means the cashless policy will roll out in different states according to the dates below

989900:


Can someone please explain the above?

Thank you.

Welcome to Nigeria.

Freewoman:
BULLSHIIT, WHEN EVEN TO OBTAIN POS FROM STUPID BANKS FORE BUSSINESS IS LIKE GOING TO HEAVEN

Jungle Nation.

Is it for total daily or monthly transactions?

The company I work built ShopATM. And this is why it was created. The CBN and partner banks don't make policies for the common man. The network issues, accessibility in smaller cities are still real problems. Lets see how the economy will take it. They will have to roll it back if it doesn't work.

This thing deserve FP o. Lalasticlala and seun help us

.

Well. . .I see business opportunities, who else is seeing them?

Iranu

Probably affecting the super rich Nigerians and companies more in terms of deposits from what i see


Who have above 500k to be depositing ?

Ordinary ATM never get stable service, you want to go cashless??


Iranu!!!

Bet9ja na una go pay for the charges waiting for weekend to come make i win this 4 mill Easter go hot

Misplaced Priority...... You wake up and make policies that will soothe only the elites sorry the polithiefians and economic buccaneers. What about those guys at the Bank bulk room, what will happen to them? Your guess is as good as mine.
We copy other countries that have developed virtually all their sectors and have multiple employment avenues while we are still faced with large-scale infrastructural deficits mtchewwwwwwww....

Reintroduces??

Useless policy

Following.....

CBN

We are used to it.




Next Pls

I wonder why we keep recirculating old news!!! The least you could do was to add more flesh to this post, cos when banks sent this to their customers weeks ago, it was properly explained.

Cool.

post=55025900:
First few lines means no matter how many accounts you get.. you can't escape the charge they will sum all your withdrawal for that day and remove the charge.

Next line means the cashless policy will roll out in different states according to the dates below

R u Emefiele's P.A?

Hehehe. Nigeria is in for it

Just another avenue to steal from people. Policy my foot

The Currupt Politicians Still Benefits...

The cashless policy isn't about robbing anyone, it's about making transactions more efficient.

The irony of OP's assertion is that the cash-less policy makes robbery less lucrative.

=:

That is the way to go. There is no reason an individual should be carrying above 500k up and down on a daily basis. Use cashless channels to do transactions above 100k . if you don't like it then pay the penalty.