2016-01-21 | FPR/DIR/BDC/GEN/01/02

Updated List of confirmed BDCs in Compliance with New Requirement

The circular from the CBN reminds banks that the zero Commission on Turnover (COT) regime has come into effect as of January 2016, as agreed during the 311th Bankers' Committee meeting. To maintain a stable banking system, a Negotiable Current Account Maintenance Fee of up to \#1.00 per mille can be charged for customer-induced debit transactions. Banks are instructed to ensure strict compliance with this directive.

Nigeria

Central Bank of Nigeria

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