Updated: CBN Republishes Charges On Electronic Transactions, Lists Correct Electronic Bank FeesPAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! The Central Bank of Nigeria (CBN) has republished the correct charges for electronic banking operations reminding financial institutions and the public on expected charges on every transactions. The guideline was signed by Chibuzor Efobi, for the Director, Financial Policy and Regulation Department of CBN and republished on Tuesday, 27 January 2022. The guideline included review of other bank charges to align with market developments and was first published in 2004 and revised in 2013, 2017, 2019 and 2020. Recommended for you “I want my old life back”: BBNaija winner Phyna cries out over continued de... Part of the CBN guidelines also comprised sections designed to directly address instances of excess unapproved, (arbitrary) charges. Do you have a groundbreaking story you would like us to publish? Please reach us through info@corp.legit.ng! The News Agency of Nigeria (NAN) in its report noted that the CBN has the mandate to issue the guide to bank charges. Recommended for you “So accurate”: Ayra Starr chooses between rapping in Chinese and dumping he... Meanwhile, total customer deposits in nine Nigerian banks climbed to N30.81 trillion at the end of the first quarter of this year, up from N29.73 trillion in December 2020. United Bank for Africa Plc was the top bank in terms of customer deposits as of March 31, 2021, with deposits growing to N5.79 trillion from N5.68 trillion in December. Others were revealed in the report which used public information from the banks audited accounts published on the Nigerian exchange website. Source: Legit.ng The Central Bank of Nigeria has revealed the right bank charges in response to Nigerians' complaints about high bank charges In the republished guidelines CBN listed various changes in ATM withdrawal fees, bill payment, SMS alerts rate among others Nigerian banks are making a lot of money from electronic transactions recording over N200 billion in 2021 PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! Do you have a groundbreaking story you would like us to publish? Please reach us through info@corp.legit.ng!