Friday, September 20, 2019

CBN corrects Nigerians thoughts on Cash-less Policy deposit/withdrawal charge

A lot of people think the charges will be on the entire money deposited/withdrew. Now CBN in a tweet has made the explanation clear.

''The Cash-less Policy deposit/withdrawal charge is only on the amount in excess of the limit. For instance, if you deposit a cash of N501,000.00. N1,000.00 is in excess of the limit. The bank will charge you 2% of N1,000.00 which is N20.00'', a message from its twitter handle read.



7 comments:

  1. Okay. Thanks for explaining

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  2. But what will they use the charges to do? I don't think it is necessary even if it is 5 naira

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  3. I for fear. But 20naira is still something in many places

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  4. So instead of 501,000 naira, I would have 500,980 ? The devil is a liar.

    ReplyDelete