TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

CBN suspends processing fees on large cash deposits

The Editor by The Editor
December 11 2023
in Business, Headlines, Latest News
A A
0
CBN suspends processing fees on large cash deposits
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has suspended the processing fees on large cash deposits, a release by the Acting Director of Supervision, Dr Adetona Adedeji, on Monday revealed.

The new development under the “Guide to Charges by Banks, Other Financial Institutions, and Non-Bank Financial Institutions” issued on December 20, 2019, with reference number (FPR/DIR/GEN/CIR/07/042), affects deposits above N500,000 for individual accounts and N3,000,000 for corporate accounts.

The suspension shall remain in effect until April 30, 2024, CBN said.

The CBN had in 2019  declared that it would begin to levy bank customers making cash deposits and withdrawals as part of its efforts to reduce cash in use.

The CBN also made known that for corporate accounts, the Deposits Money Banks would charge five per cent processing fees for withdrawals and three per cent processing fees for lodgments of amounts above N3,000,000.

“Consequently all financial institutions regulated by the CBN should accept all cash deposits from the public without any charges going forward’

“Please be guided accordingly,” the apex bank said.

Share9Tweet6
Previous Post

Veteran NTA Newscaster, Aisha Bello, dies in Abuja

Next Post

Northern lawmakers pledge N350m to rebuild bombed Kaduna community

Related Posts

Judgments on election matters turning Nigeria’s democracy upside down – Jonathan
Latest News

Nigeria @ 65: Jonathan urges Nigerians not to lose hope

October 1 2025
Kwara will not be haven for bandits – AbdulRazaq
Governance

Kwara will not be haven for bandits – AbdulRazaq

October 1 2025
Armed robbers kill ARISE TV anchor in Abuja
Latest News

Doctors tried to resuscitate her, FCT CP speaks on Arise TV anchor’s death

October 1 2025
Supreme Court affirms Mbah as Enugu State Governor
Governance

Nigeria @ 65: Enugu gov urges optimism, unity

October 1 2025
Nigeria denies alleged plot to destabilise Niger Republic
Headlines

FULL TEXT: Tinubu’s 65th Independence Day address to Nigerians

October 1 2025
FG announces end of PENGASSAN, Dangote rift
Business

FG announces end of PENGASSAN, Dangote rift

October 1 2025
Next Post
Northern lawmakers pledge N350m to rebuild bombed Kaduna community

Northern lawmakers pledge N350m to rebuild bombed Kaduna community

Uzodimma bitter because I am pro-people — Imo demolished hotel owner

Uzodimma bitter because I am pro-people — Imo demolished hotel owner

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Rivers court adjourns hearing on LG poll legitimacy

Rivers court adjourns hearing on LG poll legitimacy

by The Editor
September 16 2025
0

...

Osun households get free food items

Osun League of Imams & Alfas urges Tinubu to intervene in LG withheld funds

by The Editor
August 27 2025
0

...

Withheld allocations: Osun State drags FG to Supreme Court

Withheld allocations: Osun State drags FG to Supreme Court

by The Editor
August 27 2025
0

...

APC begins campaigns for Rivers LG election

APC begins campaigns for Rivers LG election

by The Editor
August 14 2025
0

...

APPOINTMENTS

Benue govt threatens sanctions over unauthorised governor’s portrait

Benue Assembly okays Alia’s request for 10 more special advisers

by The Editor
September 18 2025
0

...

Cross River gets new head of service

Cross River gets new head of service

by The Editor
September 17 2025
0

...

Police IG appoints Lagos PPRO, CSP Hundeyin, as new Force PRO

Police IG appoints Lagos PPRO, CSP Hundeyin, as new Force PRO

by The Editor
September 5 2025
0

...

NNPC Limited appoints new Corporate Communications, Relations Chiefs

NNPC Limited appoints new Corporate Communications, Relations Chiefs

by The Editor
September 3 2025
0

...

ODDITIES

Police clear Pastor Adefarasin of viral firearm allegation

Police clear Pastor Adefarasin of viral firearm allegation

by The Editor
September 17 2025
0

Japanese political party to install AI leader

Japanese political party to install AI leader

by The Editor
September 16 2025
0

Three patients die at AKTH as KEDCO cuts power over debt

Three patients die at AKTH as KEDCO cuts power over debt

by The Editor
September 16 2025
0

GLOBAL NEWS

Madagascar President fires government after Gen-Z protests

Madagascar President fires government after Gen-Z protests

by The Editor
September 30 2025
0

...

US gunman kills one, sets fire to Mormon Church

US gunman kills one, sets fire to Mormon Church

by The Editor
September 28 2025
0

...

Ebola death toll in Congo hits 502

Ebola outbreak in DR Congo claims 15 lives

by The Editor
September 18 2025
0

...

Ukraine: Putin has let me down, says Trump as UK visit ends

Ukraine: Putin has let me down, says Trump as UK visit ends

by The Editor
September 18 2025
0

...

EU proposes sanctions against Israel

EU proposes sanctions against Israel

by The Editor
September 17 2025
0

...

State of the States

Senator denies bill to rename Kaduna to Zazzau State

Kaduna State pays ₦72,000 minimum wage

by The Editor
September 18 2025
0

...

Gov. Mbah designates Udi, Nkanu West, Nkanu East, Nsukka LGAs as urban areas

Miyetti Allah commends Enugu Govt over peaceful intervention in herders’ attack

by The Editor
September 16 2025
0

...

Land dispute claims 100 lives in Ebonyi communities

Ebonyi govt bans graduation ceremonies for nursery, primary schools

by The Editor
September 5 2025
0

...

Gov. Mbah revamps, upgrades Nigergas after 30-year dormancy

Gov. Mbah revamps, upgrades Nigergas after 30-year dormancy

by The Editor
August 29 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Judgments on election matters turning Nigeria’s democracy upside down – Jonathan

Nigeria @ 65: Jonathan urges Nigerians not to lose hope

October 1 2025
Kwara will not be haven for bandits – AbdulRazaq

Kwara will not be haven for bandits – AbdulRazaq

October 1 2025
Armed robbers kill ARISE TV anchor in Abuja

Doctors tried to resuscitate her, FCT CP speaks on Arise TV anchor’s death

October 1 2025
Supreme Court affirms Mbah as Enugu State Governor

Nigeria @ 65: Enugu gov urges optimism, unity

October 1 2025

EDITORIAL REVIEW

To make the Fourth Mainland Bridge dream come true – Guardian

To make the Fourth Mainland Bridge dream come true – Guardian

by The Editor
September 30 2025
0

Resolve pensioners’ agitation – Punch

Resolve pensioners’ agitation – Punch

by The Editor
September 30 2025
0

Africa is ripe for UN Security Council seats – Punch

Africa is ripe for UN Security Council seats – Punch

by The Editor
September 29 2025
0

Amnesty Int’l damning report on South-East killings – The Sun

Amnesty Int’l damning report on South-East killings – The Sun

by The Editor
September 18 2025
0

Sen. Natasha debunks forged apology, vows to expose political oppression

End the Natasha impasse – Punch

by The Editor
September 18 2025
0

Opinion

1975 public service purge: What have we learnt?

1975 public service purge: What have we learnt?

by The Editor
September 30 2025
0

...

Tinubu finds his own demons

Nigeria’s state of weakness

by The Editor
September 18 2025
0

...

#ENDSARS: A wakeup call for Nigerian media

Passport hikes and burden of multiple means of identification crisis in Nigeria

by The Editor
September 16 2025
0

...

China is redefining global order

China is redefining global order

by The Editor
September 16 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.