Withdrawal, deposit charges begin in Lagos, FCT, Ogun, others

Withdrawal, deposit charges begin in Lagos, FCT, Ogun, others

The first phase of the planned implementation of the cash-less projects is expected to commence today in Lagos, Abuja, Ogun, Abia, Kano, Anambra, and Rivers States.

In the seven states, cash withdrawals or deposits in excess of N500,000 by individuals in a single bank account per day would now attract charges.

Read also: Alleged N6.6bn debt: Court stops Stella Oduah, company from making withdrawal from 21 bank accounts

A breakdown of the policy is that any withdrawal above N500,000 to N1 million will attract two per cent charge while between N1 million and N5 million attracts three per cent.

While that of N5 million will get 7.5 per cent charge, for company account only deposits or withdrawal in excess of N3m will attract charges.

Meanwhile, the second phase comprising Bauchi, Bayelsa, Delta, Enugu, Gombe, Imo, Kaduna, Ondo, Osun and Plateau states will take off on May 1.

Email *

Related Articles

Fidelity Bank Empowers Youths With Skills

Fidelity Bank Plc in partnership with Gazelle Academy and University of Nigeria Nsukka (UNN), has empowered 300 Nigerian youths with


Pepsi-cola Company has confirmed rumours making the rounds that the company will launch a smartphone. The food and beverage company

Journalist declared wanted over Boko Haram link says “Many Nigerians have access to the sect”

The freelance journalist, Ahmad Salkida, who on Sunday was declared wanted by the army over link with Boko Haram alongside


Related Posts

Sen. Saraki accused of being a bully
Pro-Chancellor and Chairperson of the Governing Council of Federal University, Otuoke, Bayelsa State, Senator Gbemisola Saraki, has come under fi...
Am ready to die - Suspended Ekiti lawmaker
Hon. Gboyega Aribisogun, a member of Ekiti State House of Assembly who was suspended for 180 legislative days said he was ready to die in his bid...
There is only one man-of-God in Nigeria - Yomi Fash Lanso
Actor Yomi Fash Lanso has hit out at Nigerian pastors saying almost all of them were men of questionable characters living large on tithes and of...
powered by RelatedPosts