Regulatory Alerts2015-08-18 | FPR/DIR/GEN/RGBC/01/013Review of the Guide to Bank Charges
The Central Bank of Nigeria (CBN) is reviewing the Guide to Bank Charges and has requested that banks and financial institutions provide lists of their existing, new, and planned products and services, along with associated fees, charges, and justifications. Submissions are due within three weeks from the date of the letter.
GBC/01/013 August 18, 2015 Letter to all Banks and Other Financial Institutions Dear Sir REVIEW OF THE GUIDE TO BANK CHARGES The CBN is in the process of reviewing the Guide to Bank Charges (GBC) and hereby requests banks and other financial institutions to provide the following:
- A list of their existing products and services as at 31st March, 2013, which were not adequately covered in the extant Guide to Bank Charges.
Please include in this category the products and services which the prescribed charges in the current GBC are not sufficient to cover costs incurred by you to provide the products and services.
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A list of new products and services introduced from 1st April, 2013 to date, their fees and charges; and justification for such fees and charges.
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A list of products and services planned for introduction in the short to medium-term (period not exceeding three years), their proposed tariffs and justification for the proposed tariffs.
Kindly send your submission in hard copy to the undersigned and in softcopy to cponyekwe@cbn.gov.ng or mcakuka@cbn.gov.ng not later than three (3) weeks from the date of this letter.
Yours faithful For: Director, Financial Policy & Regulation Department