Following the Central Bank of Nigeria's (CBN) recent announcement
that the full implementation of the cashless policy will become
effective from March 31, 2020, Nigerians have been reacting.
According to the circular, the charges, which takes effect from
today, would attract three per cent processing fees for withdrawals and
two per cent processing fees for lodgements of amounts above N500,000
for individual accounts.
In the circular titled: “Re: Implementation of the Cashless
Policy,” that was addressed to all banks, it announced the commencement
of charges on deposits in addition to already existing charges on
withdrawals.
Nigerian celebrity, Don Jazzy is not happy with the news as he has taken to Twitter to react.
Don Jazzy wrote, 'my dear the whole thing just reeks of a
desperate move to generate revenue. When they load their own stolen
money in the bank, they don’t care whatever charges they have to pay'.
See his post below:
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