The Central Bank of Nigeria has extended the suspension of cash deposit processing fees until March 31, 2025, from the previous September 30, 2024, deadline.
The CBN disclosed this in a letter to banks and other financial institutions in the country signed by its Director of Banking Supervision, Adetona Adedeji, on Friday in Abuja.
It also directed the suspension of cash deposits exceeding N500,000 for individuals and N3m for corporate accounts.
Recall that the CBN had in May, announced the suspension of cash deposit processing fees till September 30.