We write to inform you of the extension of Central Bank of Nigeria's (CBN) cashless policy to all States in Nigeria effective 1st July, 2014. The following modalities which are currently applicable in Lagos, Federal Capital Territory (Abuja), Abia, Anambra, Kano, Ogun and Rivers State will also be effective nationwide: The cash-in-transit lodgment and cash evacuation services will no longer be available to customers or merchants. For individual account holders, charges will apply when daily cumulative withdrawals are in excess of N500,000 For corporate account holders, charges will apply when daily cumulative withdrawals are in excess of N3,000,000 The Cashless policy applies to all accounts including COLLECTION accounts i.e. all sub-accounts linked to the same account holder would be treated as one account for both corporate and individual accounts. Please see applicable charges below: Daily Withdrawal LimitsCharges IndividualN500,0003% on excess CorporateN3,000,...
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