N65 ATM charge kicks off as Nigerians flay CBN

-
                      atm-machine-nigeria1

As the N65 charge on extended use of other banks’ Automated Teller Machines, ATMs, reintroduced by the Central Bank, kicks off today, September 1, Nigerians have continued to react to a policy many believe is unnecessary.
Nigerians accuse the CBN of abandoning its regulatory responsibilities and taking sides with the bank to exploit customers through the policy, the CBN says the decision is aimed at curbing frivolous withdrawals and abuse by ATM users.
The new policy alters the old arrangement in which the CBN resolved with the Bankers Committee in December 2012 to transfer the payment of N100 fee on remote-on-us ATM withdrawal transactions.
On the other hand, all ATM cash withdrawals by customers on ATMs owned by their issuing banks would continue to be free.

Comments

Post a Comment

Popular posts from this blog

America and Arab allies launch 50 strikes on terrorist group's Syrian heartland and warns its fanatical leaders 'this is only the beginning'

-
Image
                       America and five Arab countries have launched dozens of air strikes against Islamic terrorist group ISIS, killing at least 20 militants and blasting a series of its bases. The attacks - described as 'shock without awe' - began early this morning local time, with Tomahawk missiles, B1 bombers, F16, F18 and F22 strike fighters and drones involved. American air power was backed by 'participation or support' from Saudi Arabia, Bahrain, Qatar, Jordan and the UAE - a coalition of nations that has agreed to assist with the destruction of ISIS. Continue...
Read more

Shell 'warned Nigeria pipeline could leak before spills'

-
Image
  Oil firm Royal Dutch Shell was told a pipeline had reached the end of its life years before it spilled up to 500,000 barrels of oil, according to court documents seen by the BBC. Two spills in 2008 affected about 35 sq miles (90 sq km) in southern Nigeria, according to a group suing Shell. The area included sensitive mangroves. Shell "dismisses the suggestion that it has knowingly continued to use a pipeline that is not safe to operate," it told the BBC . The emails, letters and internal reports submitted to a court in London show that senior Shell employees were concerned before the spill that Shell's pipelines in the area had reached the end of their lives and needed replacing to avoid danger to lives, the environment and the economy. Continue...
Read more