Blog Archives

CBN cancels N100 monthly ATM maintenance fee

With effect from April 1, 2013, there would be a new fee structure regarding automated teller machine (ATM) transactions in Nigeria. In the Revised Guide to Bank Charges issued by the Central Bank of Nigeria (CBN) this week [see here]

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COT will be phased-out soon.

All things being equal, Commission on Transaction (COT) will be phased-out in Nigeria by 2016. In the Revised Guide to Bank Charges issued by the Central Bank of Nigeria (CBN) this week [see here] and which will become effective on

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CBN Governor denies fake social media accounts

It is now confirmed that the Governor of the Central Bank of Nigeria (CBN) does not own a Facebook or Twitter account. In a recent press release [see here], the CBN has disclaimed “various postings on social media platforms (Facebook,

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Cashing of 3rd party cheques above N150,000 to stop nationwide on June 1

In furtherance of its cashless policy, the Central Bank of Nigeria (CBN) has, through a recently issued circular to all deposit money banks, [see here] directed all deposit money banks operating in Nigeria to “ensure the implementation of N150,000.00 limit

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