Effective January 1, 2020, banks will no longer enjoy the luxury of arbitrarily charging their customers for transaction carried out in the cause of deposit.
Isaac Okoroafor, the director of information and communication of the Central Bank of Nigeria said on Sunday, December 22 that sanctions await banks that fail to abide by the new transactions regime.
In the revised guidelines some charges will attract N1, some N35 instead of N65 aming others depending on the transaction.