By Aduragbemi Omiyale Commercial banks operating in Nigeria have begun to notify their customers of the reintroduction of processing fees on cash deposits for individual and corporate accounts. One of the lenders, First Bank, in a message on Monday, said the fees became effective again on Wednesday, May 1, 2024. Recall that the Central Bank of Nigeria (CBN) suspended the imposition of the deposit charge by banks. However, the banks have been directed to resume the collection of the fee in a bid to encourage the electronic transfer of funds. According to the notice, customers with personal accounts will pay
Banks Notify Customers of Reintroduction of Processing Fees on Cash Deposits
