The implementation of the cashless policy of the Central Bank of Nigeria (CBN) expected to kick off July 2, 2013, has been put on hold till 1st of October.
According to an email sent by Guaranty Trust Bank to its customers, the suspension of the policy is to enable bank customers adjust to the news policy.
Abia, Ogun Rivers, Anambra, Kano and the Federal Capital Territory (Abuja) had been penciled for the second phase of the Cashless Policy of the Apex bank which has earlier kicked off in Lagos.
With this new directive, customers of Commercial Banks are expected begin to pay new charges.
For individual deposits, customers will pay 2 percent on withdrawal that exceeds the amount stipulated by CBN while withdrawal would be 3 percent.
On the other hand, corporate organization who deposit above the stipulated amount would be charged 3 percent and withdrawals would be charged 5 percent.
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