CBN’s Cashless Policy Now Extended To All States

10 Mar 2017

The Central Bank of Nigeria in its recent circular titled “Nationwide Implementation of the Cashless Policy”, has extended the cashless policy to the 30 remaining states of the Federation and reviewed the charges on cash deposits and cash withdrawals as follows:

 

 

Amount

Deposit

Withdrawals

Individuals

Less than N500,000

No Charges

No Charges

N500,000 – N1M

1.5%

2%

Above N1M –N5M

2%

3%

Above N5M

3%

7.5%

Corporate

Less than N3M

No charges

No charges

N3M -10M

2%

5%

Above N10M – 40M

3%

7.5%

Above N40M

5%

10%

 

Please find below the CBN approved implementation dates for the different states of the federation:

 

States

Implementation dates

Lagos, Ogun, Abia, Kano, Anambra, Rivers and the FCT

1st April 2017

Bauchi, Bayelsa, Delta, Enugu, Gombe, Imo, Kaduna, Ondo, Osun and Plateau

1st May 2017

Edo, Kastina, Jigawa, Niger, Oyo, Adamawa, Akwa-Ibom, Ebonyi, Taraba and Nasarawa

1st August 2017

Borno, Benue, Ekiti, Cross-River, Kebbi, Kogi, Kwara, Yobe, Sokoto and Zamfara

1st October 2017

 

Our Internet Banking, Mobile App, ATMs, POS and web services remain available for your transactions 24/7.

 

For more information, please call our customer contact centre on 01-2709676 or send an email to [email protected]


Sharesocialicons