Cbn new charges

CBN (Central Bank of Nigeria) new charges refer to the recent changes made by the CBN to the charges and fees applicable to various banking transactions in Nigeria. Here are some of the new charges:

  1. Inter-Bank Transfer Charge: The CBN has introduced a new charge of N10 per transaction for inter-bank transfers, effective from January 2022.
  2. Intra-Bank Transfer Charge: The CBN has also introduced a new charge of N5 per transaction for intra-bank transfers, effective from January 2022.
  3. Card Maintenance Fee: Banks are now allowed to charge a maximum of N50 per month for card maintenance, effective from January 2022.
  4. Card Replacement Fee: Banks are now allowed to charge a maximum of N1,000 per replacement of a lost or damaged card, effective from January 2022.
  5. Cheque Book Maintenance Fee: Banks are now allowed to charge a maximum of N50 per quarter for cheque book maintenance, effective from January 2022.
  6. Cheque Return Fee: Banks are now allowed to charge a maximum of N500 per returned cheque, effective from January 2022.
  7. Overdraft Fee: Banks are now allowed to charge a maximum of 15% per annum on overdraft facilities, effective from January 2022.
  8. Late Payment Fee: Banks are now allowed to charge a maximum of 2% per annum on late payments, effective from January 2022.
  9. Minimum Operating Balance: Some banks have introduced a minimum operating balance of N2,000 to N5,000 for current accounts, effective from January 2022.
  10. Mobile Banking Charge: Some banks have introduced a charge of N10 to N50 per transaction for mobile banking services, effective from January 2022.

Please note that these charges may vary depending on the bank and the specific account or service. It's always best to check with your bank for the most up-to-date information on their charges and fees.