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CBN Directs Bankers to Hold Charges on Cashless Policy

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Monday 03 Aug, 2015 1.20PM/CBN


Please refer to our circular dated June9, 2014 referred BPS /PSP/ DIR/ CIR /VOL.1/008 on the above.


It has come to our notice that some banks have started applying charges on withdrawals above the threshold in the remaining 30 states of the Federation.


CBN hereby directs that the charges in these 30 States be put on hold, until further directive is received from the Bank.


In the light of the above, charges inadvertently applied by banks on their customers ‘account in the remaining 30 States with effect from 1st July, 2015 should be reversed immediately.

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