CBN slashes banks’ ATM withdrawal fee from N65 to N35

The Central Bank of Nigeria earlier today reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35.

The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month.

The new directive is part of the major highlights of the new Guide to Bank Charges released by the CBN on Sunday.

It also removed Card Maintenance Fee on all cards linked to current accounts, and also asked banks to charge a maximum of N1 per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other bank on current accounts only.
The guidelines also pegged the Advance Payment Guarantee to a maximum of one per cent of the APG value in the first year and 0.5 per cent for subsequent years on contingent liabilities.

The CBN warned banks to ensure full compliance to the new guidelines adding that any bank that violate the provisions of the guidelines would be sanctioned.
It reads in part, “Financial Institutions are to note that any breach of the provisions of this Guide carries a penalty of N2,000,000 per infraction or as may be determined by the CBN from time to time.

” Failure to comply with CBN’s directive in respect of any infraction shall attract a further penalty of N2,000,000 daily until the directive is complied with or as may be determined by the CBN from time to time.”

Comments

Vulvar Care Tips

Vulva Care Maintaining a healthy vulva and vagina will help prevent infections and discomfort. Unusual changes in vaginal discharge is a sign that there might be an issue. Why is vulvar and vagina care important? Many women experience uncomfortable, vaginal infections (vaginitis) at one time or another. The area around the entrance to the vagina (vulva) can also become irritated. Steps can be taken to relieve and prevent vulvar discomfort and vaginal infections. Not all vaginal infections are alike and home treatments can worsen some types. If you have any concerns about your vulvar or vaginal health, or notice unusual changes in vaginal discharge, contact your healthcare provider if the problem persists. What is the vulva? The vulva is the area of female sex organs that lies outside of the vagina. These organs include folds of sensitive tissue called the labia (labia means "lips"). The labia has two parts. The outermost folds are called the labia majora. A secon...

CJN Tanko unveils panel to hear Atiku’s appeal against Buhari

The Chief Justice of Nigeria, Ibrahim Tanko Mohammed is presiding over the 7-man panel that will hear the appeals filed by the People’s Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, challenging the victory of President Muhammadu Buhari at the February 23 poll. Other members of the panel are Bode Rhodes-Vivour, Amiru Sanusi, Uwani Abaji, Ejembi Eko, John Inyang Okoro and Olukayode Ariwoola. Atiku and his party are challenging the September 11 judgment of the Justice Mohammed Garba-led Presidential Election Petitions Tribunal which affirmed President Buhari’s victory at the polls. The appeals hearing has generated some controversies especially due to the silence of the Supreme Court on the justices that would constitute the panel, with the Coalition of United Progressives Party (CUPP) demanding the use of seniority in selecting them. A senior member of Atiku’s legal team, Chief Chris Uche (SAN), told reporters that they considered it strange that as at ...

NNL: Sanni dumps Saraki Boys

Tunde Sanni, head coach of the Abubakar Bukola Saraki (ABS) FC of Ilorin has resigned, Coordinator of the team, Idris Musa, said on Monday. Musa told the News Agency of Nigeria (NAN) in Ilorin that Sanni had turned in his resignation letter later after a meeting with the team’s Director of Football, Alloy Chukwuemeka. After the meeting, Chukwuemeka and Sanni refused to comment on the matter. The club’s U-15 coach, Taofeeq Babatunde, has been drafted to assist the Assistant Coach, Suleiman Quadri, pending when a substantive manager will be appointed. His resignation may be due to recent results, which were not in favour of the Saraki Boys. The team lost to Kebbi United 3-2 on penalties after 1-1 draw during regulation time in the round of 64 encounter of the Aiteo Cup in Minna. The Saraki Boys also lost 3-0 to Mighty Jets of Jos and drew 0-0 with the Jos-based side in the return leg on Wednesday in Ilorin at Bet9ja Nigeria National League’s (NNL), Match Day 10 encounter. ...

BAMY BLOG

Search This Blog