Explaining The New Bank Charges, Lending And Deposit Rates Announced By The CBN

Nairametrics| The Central Bank on Nigeria released a new set of guidelines to charges by banks and other financial institutions last week. The new charges are effective May 1 2017.

Here are the key things you need to know about these charges. (You can download the guidelines by following the link above, and then read through with the explanations below.)

Get explanation

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What others say about : Explaining The New Bank Charges, Lending And Deposit Rates Announced By The CBN..


CBN just hit the nail on the head. All these unnecessary bank charges will now stop. Charging customer sms alert for transactions not initiated by them and all of that.

Osaretin Giegbefumwen

this information is heartwarming and timely i must say. i hope some banks will not go about playing on peoples ignorance because everybody will have access to this information. all hands must be on deck and act accordingly irrespective of the status of the customer.


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CBN did not tell us what to do or who to report infractions to in case of any. CBN should take a queue from NCC ie communication commission. Tx

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