![](https://i0.wp.com/allmedia24.com/wp-content/uploads/2023/11/CBN-650x375-1-5.jpg?resize=650%2C375&ssl=1)
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…..
Follow us on Google News for Latest Headlines
Join Our WhatsApp, Facebook, or Telegram Group For More News, Click This Link Below;
WhatsApp Channel
https://whatsapp.com/channel/0029VaELqhlHVvTXjDnUf80h
WhatsApp Group
https://chat.whatsapp.com/G6Lo3ss6WKLCOqBphZwQGk
Facebook Page
https://facebook.com/allmedia24news
Our Twitter Page
https://www.twitter.com/allmedia24news
Telegram Group
https://www.threads.net/@allmedia24news