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The Central Bank of Nigeria talk about the Cashless Policy Incapacitate the Volume of Money in Flow

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Feb. 19, 2020

The Central Bank of Nigeria stated the cashless policy incapacitate the volume of money circulation and to place Nigeria on the scoreboard of global best practices. It was revealed that the policy has been put on try in five states in Nigeria including the Federal Capital Territory. And it will go nationwide starting from 31st  March 2020,
Central Bank of Nigeria stated that the policy put forward for individual accounts, stating the cash transaction above N 500,000 entice 2% and 3% processing fees for withdrawing cash and depositing cash. For the corporate account the processing fees of 5% and 3% charges on withdraws and cash deposits above N 3, Millions.
Mr. Isaac Okorafor the Director of Corporate Communication of the Central Bank of Nigeria spoke during the bank’s Fair taken place in Asaba. Stated that the policy have took accomplish as at 18th September, 2019 also stating all the stated included.
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