Its official! Nigeria's apex bank, the Central Bank of Nigeria (CBN) has introduced yet another policy that affects Nigerian bank current account holders.
Earlier this week, we
reported it here that the Central Bank of Nigeria (CBN) introduced a 'stamp duty' - which means you pay to receive money, N50 for every single credit transaction above N1000, as long as you have a current account.
Yesterday, the apex bank introduced yet another policy that affects Nigerian bank current account holders. The CBN implemented a negotiable 'current account maintenance fee' – it will be at most N1 per every N1000 spent from your current account.
That means if you spend N100,000, you could be charged N100. For N10 million, you could be charged up to N10,000.
Below is the circular:
All Stanbic IBTC customers also got this email: