In addition to other states already in the scheme, the Central Bank of
Nigeria will on Wednesday begin the full implementation of its cash-less
policy in the Federal Capital Territory, Rivers, Kano, Anambra, Ogun
and Abia states. This follows the end of a 3-month moratorium on the
charges.
Henceforth, any customer who deposited above N500,000 per day from
Wednesday would be charged three per cent, while withdrawals above the
limit would attract five per cent charge.
The policy allows the CBN to peg the daily cash withdrawal or deposit
for individual accounts at N500,000, while that of corporate accounts is
fixed at N3m per day.
