JUST IN: CBN Suspends Cash Deposit Charges Until April 2024

In a groundbreaking move, the Central Bank of Nigeria (CBN) has declared a temporary suspension on cash deposit charges, providing respite for both individual and corporate entities. Effective immediately, this suspension extends until April 30, 2024, signaling a proactive approach by the CBN to address financial dynamics and promote economic resilience.

Individuals will no longer face a 2% charge on cash deposits exceeding ₦500,000, while corporations benefit from the cessation of the previous 3% fee on deposits surpassing ₦3,000,000. This strategic decision aligns with the CBN’s commitment to creating a conducive financial climate, fostering increased liquidity, and encouraging robust economic activities.

READ ALSO: CBN Clarifies Naira Scarcity: Unraveling the Reasons Behind the Nationwide Currency Crunch

This significant policy adjustment is expected to have a ripple effect on various sectors, offering relief to businesses and individuals alike. The CBN’s forward-looking stance underscores its dedication to supporting economic growth and stability, showcasing a responsive approach to the evolving financial landscape.

More details soon…..

https://t.me/PAWSOG_bot/PAWS?startapp=6ZSAPFb3

Follow us on Google News for Latest Headlines

https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h

https://chat.whatsapp.com/G6Lo3ss6WKLCOqBphZwQGk

https://facebook.com/allmedia24news

https://www.twitter.com/allmedia24news
Telegram Group

https://t.me/allmedia24

https://www.threads.net/@allmedia24news

RECEIVE NEWS FROM EMAIL

Email address:

Leave this field empty if you're human: