The financial institution of Federal Republic of Nigeria (CBN) says the new introduced debatable charges on bank deposits was nonmandatory.
The CBN conjointly aforesaid that charges on withdrawals from banks were nonmandatory for people and businesses.
The apex bank created the claims on its verified/official Twitter handle Sunday morning.
“Under the cashless policy, please note that the payment of deposit/withdrawal charge could be a selection by people and businesses”, it said.
“CBN has provided varied choices to receive and and disburse cash on top of the bounds while not having to pay any charge”, the statement more.
The CBN, however, refused to disclose the aforesaid “option(al)” even once its followers demanded to grasp.
The financial institution had recently introduced a debatable a pair of per cent charges on deposits and withdrawals on top of N500,000.
According to the CBN, the new charges, that takes result from 5 states, applies on individual and company accounts.