The Central Bank of Nigeria has ordered banks to stop charges on cash deposits. The apex bank disclosed this in a May 6, 2024, circular signed by its Director of Banking Supervision, Adetona Adedeji. The apex bank noted that the suspension will last until September 30, 2024. The development comes as Nigerian banks charge two per cent on deposits above N500,000 for individuals, while corporate account holders were to be charged two per cent on deposits above N3 million. However, according to the latest circular to financial and non-financial institutions, CBN said the processing fees have been …