• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

CBN implements new ATM withdrawal rules

user avatar

by Giorgi Kostiuk

9 months ago

The Central Bank of Nigeria (CBN) introduces new regulations for commercial banks concerning ATM withdrawals and warns of potential sanctions.

CBN Warnings and Sanctions

CBN threatens to sanction commercial banks that force customers to withdraw less than N20,000 per transaction despite having higher funds. Affected customers are encouraged to file complaints.

New ATM Withdrawal Fees

CBN has revised ATM withdrawal fees due to rising operational costs. New rules include the elimination of three free withdrawals per month. Withdrawals from own-bank ATMs incur no fees, while withdrawals from other banks’ ATMs incur a fee of N100 per N20,000.

New Whistleblowing Website

CBN has also introduced a whistleblowing website for safely reporting professional and ethical misconducts.

The changes introduced by CBN aim to improve the transparency and efficiency of ATM operations and enhance trust in Nigeria's banking system.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Layer 12 Ecosystems Prepare for Growth Amid Rising Stablecoin Demand

chest

Key players in Layer 12 ecosystems are preparing for growth as demand for stablecoins increases.

user avatarTenzin Dorje

Institutional Interest May Propel Layer 12 Growth

chest

Institutional backing hints at future growth for Layer 12 infrastructure amid expanded stablecoin use.

user avatarBayarjavkhlan Ganbaatar

Maple Finance Expands Lending Services and Partnerships

chest

Maple Finance has expanded its lending services and formed partnerships, including a collaboration with Aave, to broaden its market reach and enhance liquidity pools.

user avatarSon Min-ho

Mutuum Finance Plans Launch of USD-Pegged Stablecoin

chest

Mutuum Finance is preparing to launch a stablecoin to enhance lending market stability.

user avatarMohamed Farouk

The Shift from Sharpe Ratio to Sortino Ratio in Risk Assessment

chest

The shift from Sharpe Ratio to Sortino Ratio in risk assessment highlights the advantages of focusing on downside risk for better investment evaluation.

user avatarElias Mukuru

Understanding the Importance of Risk-Adjusted Return in Modern Finance

chest

In modern finance, Risk-Adjusted Return (RAR) is a critical metric for evaluating investment performance, emphasizing the balance between returns and risk.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.