announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000 respectively per week.He also advised the CBN “to mitigate these measures with a freeze on withdrawal charges by banks and introduce policies to ensure that transfers and transactions are not impeded by network problems”.
“It is inconceivable that in an economy bedevilled with random and multiple bank charges, the Nation’s Central Bank will decide to inflict the lowest level of citizens with a mandatory acquisition of Point of Sales machines. This exposes the poor to multiple deductions by banks and may be an opportunity to fleece the people.
PoliticsNGR This is expected. He should be promoted to show where he is hiding his own share of our arms money. Maybe he has not been able to get it all into the regular banking system.