CBN Rolls out Nationwide Cashless Policy Implementation Timelines

CBN releases guidelines on Nigeria/China currency swap deal
CBN

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.

 


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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.




About Sam Gabriel 1696 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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