The Central Bank of Nigeria has slashed charges for Automated Teller Machine withdrawal and inter-bank transfers. CBN's review of the charges was contained in its revised guidelines to charges by banks, other financial institutions and non-bank financial institutions. ATM withdrawals that attract a service charge of N65 will now be N35 after the…
CBN’s review of the charges was contained in its revised guidelines to charges by banks, other financial institutions and non-bank financial institutions. Chibuzor Efobi, the Director, Financial Policy and Regulation Department, in a circular, said the review was in response to “further evolution in the financial industry in the last few years.”
CBN notes that the Standing Order charge for intra-bank will be free instead of the N300 contained in the 2017 guideline.
But zenith bank is still charging high stamp duty
Got this on Friday😭
CBN still cannot stop fee free iota transactions from replacing banks. The reason is... as long as banks pay employees, they have to charge a fee somewhere. IOTA is fee free so it will destroy any competition as will hathor.
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