bank charges

  1. CBN Increases ATM Card Issuance Fee to N1,500, Scraps Maintenance Charge

    Nigeria CBN Increases ATM Card Issuance Fee to N1,500, Scraps Maintenance Charge

    The Digest: The Central Bank of Nigeria (CBN) has increased the fee for the issuance or replacement of debit and credit cards from N1,000 to N1,500, effective from May 1. The apex bank also announced that no maintenance fee will be charged on naira-denominated debit or credit cards, while...
  2. NRS Clarifies VAT Does Not Apply to Bank Transfers, Only Service Charges

    Nigeria NRS Clarifies VAT Does Not Apply to Bank Transfers, Only Service Charges

    The Digest: The Nigeria Revenue Service has moved to clarify a critical point of tax policy: the 7.5% Value Added Tax applies only to bank service charges, not to the actual money customers transfer or deposit. In a statement issued Thursday, the NRS firmly dispelled what it called widespread...
    • Nigeria News
    • Article
    • 1 min read
    • bank charges nigeria revenue service nrs tax policy vat
    • Category: Business
  3. List of Bank Charges Nigerians Will No Longer Pay from Next Year

    Nigeria List of Bank Charges Nigerians Will No Longer Pay from Next Year

    The Digest: Millions of Nigerians will receive significant financial relief starting January 2026 as five frequently applied bank charges are set to be abolished under the Federal Government’s sweeping tax reform agenda. According to fiscal policy chairman Taiwo Oyedele, the changes are part...
    • Nigeria News
    • Article
    • 1 min read
    • bank charges taiwo oyedele tax reform
    • Category: Business
Back
Top