Close Menu
GRASSROOTS PARROT
  • Home
  • News
    • Crime
    • Health
    • Education
    • Agric
    • Climate Report
    • Economy
    • Women Affairs
    • Special Reports
    • Africa
  • Investigations
  • Business
  • Politics
  • Environment
  • Sports
  • More
    • Entertainment
    • Opinions
    • Videos
    • Podcasts
    • Trending
  • About
    • Contact Us
    • Privacy Policy
Facebook X (Twitter) Instagram
Facebook X (Twitter) WhatsApp Telegram
GRASSROOTS PARROT
Subscribe
  • Home
  • News
    • Crime
    • Health
    • Education
    • Agric
    • Climate Report
    • Economy
    • Women Affairs
    • Special Reports
    • Africa
  • Investigations
  • Business

    Tinubu Signs Tax Reform Bills Into Law, Targets Investment and Revenue Growth

    June 26, 2025

    Tinubu Set To Sign Tax Reform Bills Into Law, Promises Fairer Economy For Nigerians

    June 26, 2025

    Blackout Looms As Electricity Workers Give Strike Notice

    June 5, 2025

    Emir Sanusi Woos Foreign Investors, Assures Opportunities, Profit Margin In Nigeria

    May 8, 2025

    Dangote Accuses Oil ‘Cabal’ Of Sabotaging His $20B Refinery

    May 5, 2025
  • Politics

    RENEWED HOPE VANGUARD FOR TINUBU: A GRASSROOTS MOVEMENT TO CONSOLIDATE THE GAINS OF THE TINUBU PRESIDENCY

    July 1, 2025

    “Kwankwaso Is A Political Burden, Take Him.” – NNPP Tells APC

    June 30, 2025

    Fubara Attends Wike’s Uncle Burial Amid Renewed Political Truce in Rivers

    June 28, 2025

    Revealed: How Tinubu-Kwankwaso Pact Forced Ganduje To Step Down

    June 28, 2025

    Why Ganduje Resigned As Our Party National Chairman – APC

    June 28, 2025
  • Environment
  • Sports
  • More
    • Entertainment
    • Opinions
    • Videos
    • Podcasts
    • Trending
  • About
    • Contact Us
    • Privacy Policy
GRASSROOTS PARROT
Home » CBN Suspends Charges On Cash Deposit Till September
Economy

CBN Suspends Charges On Cash Deposit Till September

Editor1By Editor1May 8, 2024
Facebook Twitter WhatsApp Telegram
CBN

The federal government through the Central Bank of Nigeria (CBN) on Tuesday suspended charges on cash deposits until September 30, 2024.

Grassroots Parrot recalled that on May 1, banks resumed the collection of processing fees on cash deposits.

By implication, two percent was to be charged on deposits above N500, 000 for individuals, while corporate account holders were to be charged 3 percent on deposits above N3, 000, 000.

But the CBN, in a circular dated May 6, 2024, signed by Adetona Adedeji, CBN’s director of banking supervision, suspended the charges.

The circular issued to financial institutions and non-financial institutions, said the processing fees have been suspended till the end of the third quarter (September, 2024).

READ ALSO: CBN Increases Banks Capital to N500bn, First Time in 19 Years

“Please refer to our letter dated December 11, 2023, referenced BSD/DIR/PUB/LAB/016/023 on the above subject, suspending processing charges imposed on cash deposits above N500,000 for Individuals and N3,000,000 for Corporates as contained in the “Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions” issued on December 20, 2019.

“The Central Bank of Nigeria (CBN) hereby extends the suspension of the processing fees of 2% and 3% previously charged on all cash deposits above these thresholds until September 30, 2024.” The apex bank said.

It however directed financial institutions to continue to accept all cash deposits from the public without any charges.

 

 

Share. Facebook Twitter Telegram WhatsApp

Related Posts

Abuja Teachers Blast Education Minister For Late Response To Three-Month Strike

July 1, 2025

Sanusi II, Bayero Set For First Public Encounter Since Kano Emirate Crisis At Dantata’s Burial In Madina

July 1, 2025

Students Protest Renaming Of The Polytechnic Ibadan After Ex-Governor

July 1, 2025
Leave A Reply Cancel Reply

Latest Posts

Bribery Allegation: Kano Judicial Commission Sacks Worker, Demotes Court Registrar

February 10, 20251,074

Kano Govt Insists 6 p.m. to 6 a.m Curfew Remains Despite End of Hunger Protest

August 12, 20241,059

Kano Govt Clarifies Curfew Relaxation Amid Growing Rumours

August 4, 2024937

BREAKING: Kano Govt Suspends Curfew

August 12, 2024732
Don't Miss
Education

Abuja Teachers Blast Education Minister For Late Response To Three-Month Strike

By Editor1July 1, 2025

The Coordinator of the Federal Capital Territory (FCT) LEA Teachers’ Forum, Abdulsalam Haruna, has taken a…

Sanusi II, Bayero Set For First Public Encounter Since Kano Emirate Crisis At Dantata’s Burial In Madina

July 1, 2025

Students Protest Renaming Of The Polytechnic Ibadan After Ex-Governor

July 1, 2025

RENEWED HOPE VANGUARD FOR TINUBU: A GRASSROOTS MOVEMENT TO CONSOLIDATE THE GAINS OF THE TINUBU PRESIDENCY

July 1, 2025
Stay In Touch
  • Facebook
  • Twitter
  • Telegram
  • WhatsApp
About Us

Grassroots Parrot is a community-oriented online news medium focusing on social justice issues and how they are affecting people in the rural areas. We adopt tripod approaches of investigative, developmental and solution journalism to unearth developmental challenges and hold authorities accountable on possible...

Email Us: info@grassrootsparrot.com
Contact: +2348060183014

Facebook X (Twitter) WhatsApp Telegram
Recent Posts

Abuja Teachers Blast Education Minister For Late Response To Three-Month Strike

July 1, 2025

Sanusi II, Bayero Set For First Public Encounter Since Kano Emirate Crisis At Dantata’s Burial In Madina

July 1, 2025

Students Protest Renaming Of The Polytechnic Ibadan After Ex-Governor

July 1, 2025
Most Popular

Bribery Allegation: Kano Judicial Commission Sacks Worker, Demotes Court Registrar

February 10, 20251,074

Kano Govt Insists 6 p.m. to 6 a.m Curfew Remains Despite End of Hunger Protest

August 12, 20241,059

Kano Govt Clarifies Curfew Relaxation Amid Growing Rumours

August 4, 2024937
© 2025 GRASSROOTS PARROT
  • Home
  • About Us
  • Contact Us
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.

WhatsApp Share