CBN Slashes ATM Charges, Interbank Transfer Fees
The Central Bank of Nigeria CBN has recently announced review of charges for electronic banking transactions in it’s revised guidelines to charges by banks, financial institution and non-bank financial institutions.
This was confirmed in a circular released on January 28, 2022 by the bank’s director, financial policy and regulation department, Chibuzor Efobi.
It reads:
“RE: GUIDE TO CHARGES BY BANKS, OTHER FINANCIAL AND NON-BANK FINANCIAL INSTITUTIONS.”
The circular stated that the review was in response to “further evolution in the financial industry in the last few years.”
