Here’s a full list of bank transaction taxes in Nigeria as approved by the Central Bank of Nigeria CYBERSECURITY LEVY: SENDERS now bear; ₦5 on ₦1,000 ₦50 on ₦10,000 ₦500 on ₦100,000 ₦5,000 on ₦1,000,000 ₦50,000 on ₦10,000,000 STAMP DUTY: RECEIVERS bear; ₦50 on ₦10,000 ₦50 on ₦100,000 ₦50 on ₦1,000,000 ₦50 on ₦10,000,000 TRANSFER […]
In accordance to a circular by the Central Bank of Nigeria (CBN), Nigerian banks will begin deducting a 0.5% cybersecurity levy on customers’ transactions. The circular was issued by the CBN on Monday, May 6, 2024, and directed to all commercial, merchant, non-interest, and payment service banks, among others. “Deductions shall commence within two weeks […]
How Did The Ban On Naira Spray Start? 1980s I attended a party at the official residence of a very senior government official in 1985 or ’86. When it was time for the dance, the MC announced that there would be no spraying because spraying was not allowed. I thought that I understood why. My […]
Click here to access CBN Website/Portal For Depositing Old Naira Note
“Please click here to create your profile, generate reference and print out receipt for you to proceed to the nearest CBN Branch to deposit your old N1000, N500 and N200 notes into your bank account,” a notice on the portal reads. “Please visit this link, https://crs.cbn.gov.ng, ONLY through the CBN website. Go to the CBN branch […]
How to deactivate USSD code profile on your WEMA bank account. The USSD code allows customers deactivate their USSD profile once their mobile devices get lost or stolen. This self-service enables users to deactivate their accounts using any alternative phone number, giving accountholders full autonomy to safeguard their funds before official reports are directed to […]
How to deactivate USSD code profile on your Access bank account. The USSD code allows customers deactivate their USSD profile once their mobile devices get lost or stolen. This self-service enables users to deactivate their accounts using any alternative phone number, giving accountholders full autonomy to safeguard their funds before official reports are directed to the […]