Wednesday 16 March 2016

CBN Propose 5 New Charges On Bank Customers

A N50 charge on every cheque leaflet obtained and used at deposit money banks’ counters.

An N100-per-month maintenance charge on every debit (ATM) card. This is separate from the existing N65 charge after the third withdrawal within the same month. If the card wasn’t used in a month N50 will be deducted.

A N4,200-per-annum charge on foreign currency denominated cards as maintenance fee.

 The CBN is also proposing a charge of a N100 on Form A, which is used by students to apply for forex on school fees, medical bills, and travel allowances.

Form M, which is predominantly used by manufacturers to import goods not on the CBN prohibition list, is proposed to henceforth cost “N1,000 in addition to maintenance fee on e-Form platform in line with CBN directive”.

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