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

    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

    CHRICED Slams Tinubu Over N10bn Aso Villa Solar Project, Calls For Minister’s Sack

    April 24, 2025

    Blackout Looms As GenCos Threaten Shutdown Over N4tn Electricity Debt

    April 14, 2025
  • Politics

    Democracy Day: Full Text Of President Tinubu’s Address At joint National Assembly Session, Confers National Honours On 102 Nigerians

    June 12, 2025

    I Won’t Endorse Tinubu, Jonathan Had 22 PDP Govs Still Lost- Ndume

    June 10, 2025

    Akwa Ibom Governor Umo Eno Dumps PDP, Joins APC

    June 6, 2025

    Leadership Shake-Up: Ondo Deputy Speaker, Majority Leader Resign

    June 3, 2025

    I Never Benefited From Politics, I Spent My Own Money- Says Former Abia Gov Uzor Kalu

    June 3, 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

Father Kills Teenage Daughter During Domestic Dispute In Kano

June 18, 2025

Man Sets Himself Ablaze In Kano, Claims He Wanted To Go To Paradise

June 18, 2025

Again, Govt Declares Public Holiday

June 17, 2025
Leave A Reply Cancel Reply

Latest Posts

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

February 10, 20251,072

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

August 12, 20241,058

Kano Govt Clarifies Curfew Relaxation Amid Growing Rumours

August 4, 2024937

BREAKING: Kano Govt Suspends Curfew

August 12, 2024732
Don't Miss
Crime

Father Kills Teenage Daughter During Domestic Dispute In Kano

By Editor IIIJune 18, 2025

A tragic case of domestic violence has shocked residents of Dawakin Dakata Quarters in Kano…

Man Sets Himself Ablaze In Kano, Claims He Wanted To Go To Paradise

June 18, 2025

Again, Govt Declares Public Holiday

June 17, 2025

Davido Begins Countdown To Lavish White Wedding With Chioma

June 17, 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

Father Kills Teenage Daughter During Domestic Dispute In Kano

June 18, 2025

Man Sets Himself Ablaze In Kano, Claims He Wanted To Go To Paradise

June 18, 2025

Again, Govt Declares Public Holiday

June 17, 2025
Most Popular

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

February 10, 20251,072

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

August 12, 20241,058

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