Recent CBN Important Updates To All Banking Terms and Charges

Recent CBN Important Updates To All Banking Terms and Charges – Recently, the Central Bank of Nigeria make some update on the Nigerian Banking Industry about the charge on each transaction make by a customer. But here are the current update below…

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Recent CBN Important Updates To All Banking Terms and Charges

The Central Bank of Nigeria recently concluded the removal of Commission on Turnover (COT) charges in the Nigerian Banking Industry, whilst retaining a Negotiable Current Account Maintenance fee of not more than N1 per mille on all debit transaction on current accounts.

In line with this, please note that effective January 2016, Commission on Turnover (COT) charges will no longer be applicable on your current account. We will however retain the Current Account Maintenance Fee of N1 per mille on all debit transactions.

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