From March 31, Nigerian banks will charge you 2% for every deposit above N500,000.

Godwin Emefiele, CBN governor, speaking at the end of
the 270th meeting of the Monetary Policy Committee (MPC)
at the apex bank’s headquarters in Abuja.
 (Twitter/Channels Television)

Nigerian banks to charge a certain percentage from account holders in the country for every deposit and withdrawal above N500,000 for an individual and N3 million for corporate.

This policy takes effective nationwide Tuesday, March 31st, 2020.

The new charges include a 2% processing fee for cash deposit and 3% processing fees for a withdrawal above N500,000. For corporate accounts, it is 5% and 3% for withdrawal and deposit above N3 million.


By Aderemi Ojekunle.
Full story at Pulse NG.