The Central Bank of Nigeria (CBN) says 12 banks have been fined N499 billion for failing to give out 60% of their deposits as loans. The cash reserve of the…
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Cashless Policy
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CBN Re-Introduces Charges On Deposit, Withdrawals Above N500,000
by Damilare Salami September 18, 2019The Central Bank of Nigeria (CBN) has re-introduced charges on the deposit and withdrawals of sums above N500,000 to promote a cashless economy. In a circular released on Tuesday, all…