The Central Bank Of Nigeria, (CBN) has announced a downward review of charges applicable to merchant payments transactions through Point of Sale, (POS), Automated Teller Machine, (ATM), Debit and Credit Cards. This comes as the countrys apex bank has introduced a new cashless policy which stipulates new charges on cash transactions in excess of N500,000 and N3,000,000 for individual and corporate accounts respectively. In a memo sent to all Banks processor/Switches, on 18 September, the CBN stated a downward review from 0.75% capped at N1,200 to 0.50% capped…
Read MoreCBN reduces charges on PoS, Credit, Debit cards
