ABUJA MARCH 3, 2017 – The Central Bank of Nigeria (CBN) has rolled out nationwide cashless policy implementation timelines and guidlines across all states. The CBN had earlier re-introduced and reviewed charges on cash deposits and withdrawals in existing cashless states – Lagos, Ogun, Kano, Abia, Anambra, Rivers and the FCT effective 1st April, 2017.
The CBN has also extended the cash-less policy to all 30 remaining states of Nigeria with commencement dates as follows:
The revised charges for all cash deposits and withdrawals are as follows:
Exemptions have however been granted to revenue generating accounts of the federal, state and local government on cash deposits.
Embassies, Diplomatic Missions, Multilateral and Aid Donor Agencies in Nigeria are also exempted from all processing fees relating to the cashless policy implementation.
Bank customers are encouraged to take advantages of secured, convenient and always available alternative channels to ensure seamless transition to a cashless economy.
