CBN Governor, Mr Godwin Emefiele
As reactions continue to mount following the announcement by the
Central Bank of Nigeria (CBN) on cashless policy, the apex bank has
given more insight into the mode of operation on the policy.
With fears and tension, which apparently, was as a result of
misinterpretation of the CBN announcement on cashless policy, the CBN,
on its verified Twitter handle, explained that
“The Cash-less Policy
deposit/withdrawal charge is only on the amount in excess of the limit.
For instance, if you deposit a cash of N501,000.00. N1,000.00 is in
excess of the limit. The bank will charge you 2% of N1,000.00 which is
N20.00.”
In reaction to what many thought was a stringent move, the House of
Representatives has called on the CBN to suspend the cashless policy
initiative.
Meanwhile, some economic experts and stakeholders have lauded the initiative.