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Nigeria News: Cashless Policy Charges on Cash Deposits and Withdrawals

Nigeria News Cashless Policy

Nigeria News is please to inform you that the cashless policy which is currently operational in 6 states will now be extended to all states nationwide.

The Central Bank of Nigeria (CBN) has reviewed the charges and effective dates per state.

Please see a breakdown of the new charges below;

Nigeria News Cashless Policy

Nigeria News gathered that these new charges will be applied on cumulative withdrawal/deposit on all accounts (regardless of the cash withdrawal/deposit channel), and would begin in all states in the coming months. Please see the effective dates below;

Nigeria News Cashless Policy

The current exemptions for the following organizations will remain in place; as such Mobile Money Operators (pool accounts only), Revenue generating Accounts of the Federal, State and Local Governments (lodgments only), Embassies, Diplomatic Missions, Multilateral Agencies, Aid Donor Agencies, Ministries, Departments and Agencies of Government (revenue collection only), Microfinance Banks (MFBs) and Primary Mortgage Institutions (PMIs) will be exempted from paying these charges.


Rev Francis Waive

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