• 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

a year 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

David Schwartz Addresses XRP Ledger Transaction Control Speculation

chest

David Schwartz clarifies that valid transactions on the XRP Ledger cannot be blocked unless users agree to change the validity rules.

user avatarMaria Fernandez

UK Gambling Commission's Crypto Payment Review Linked to FCA's New Framework

chest

The UK Gambling Commission's potential move to allow cryptocurrency payments at licensed gambling venues is linked to the FCA's new oversight framework for cryptocurrencies.

user avatarGustavo Mendoza

UK Gambling Commission Explores Cryptocurrency Payments Amid Illegal Gambling Concerns

chest

The UK Gambling Commission is exploring the possibility of allowing cryptocurrency as a payment method for licensed online gambling platforms due to rising illegal gambling activities.

user avatarRajesh Kumar

Apple's Strategic Advantage in AI Amidst Market Challenges

chest

Jim Cramer highlights Apple's strategic advantage in the AI sector through its Google Gemini deal, despite concerns over stock performance.

user avatarMiguel Rodriguez

Stablecoins Expected to Gain Momentum in Mainstream Payments

chest

Stablecoins are increasingly viewed as a disruptive force in global payments, with significant growth projected.

user avatarLuis Flores

Bitcoin Price Analysis Predicts Bottom Before Next Halving

chest

Crypto analyst Blockchainedbb forecasts a potential price bottom for Bitcoin in late Q4 2024, based on historical halving cycles.

user avatarArif Mukhtar

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.