2025-07-04 | BSD/DIR/PUB/LAB/018/004

RE: PROCESSING FEES ON CASH DEPOSITS

The Central Bank of Nigeria (CBN) has announced an extension to the suspension of processing fees on cash deposits. This suspension applies to deposits exceeding N500,000 for individual accounts and N3,000,000 for corporate accounts, and will now remain in effect until December 31, 2025. The CBN aims to encourage the use of formal banking channels and promote financial inclusion across the country by waiving these fees. All financial institutions regulated by the CBN are required to continue accepting cash deposits without applying processing charges for eligible deposits during this suspension period.

Nigeria

Central Bank of Nigeria

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