News
Breaking: Central Bank Of Nigeria (CBN) Slashes ATM Withdrawal And Electronic Transfer Charges
The CBN has announced a downward review of ATM and electronic transfer fees as well as card maintenance charges.
The new charges were listed in the latest Guide to charges by Banks and other Financial Institutions.
According to the report, customers of banks will now pay N10 for electronic transfer less than N5,000, and N25 for transfer between N5,000 and N50,000. Electronic transfer above N50,000 will attracts N50.
Recall that bank customers pay N50 for electronic transfer below N500,000. The CBN also slashed charges for cash withdrawal on other bank’s ATM terminal to N35 after the third withdrawal in the same month from N65.
Card maintenance fee (CAMF) was removed on all cards linked to a current account. Isaac Okorafor, Director, Corporate Communications, CBN, explained further that the current NIP charges apply to use of USSD, purchase done with cashback will attract a fee of N100/N20,000 subject to cumulative N60,000 withdrawal/day.
The cards linked to a savings account, the maintenance fee has been slashed to N50/quarter from N50/month amounting to N200/annum instead of N600
Therefore, the CBN has urged financial service providers and bank customers to acquaint themselves with these new provisions of the Guide and be guided accordingly.
The NBA All-Star game has now to be called The Kobe Bryant MVP Award. NBA commissioner, Adam Silver made this announcement on Saturday 15th February.
The Kobe Bryant MVP Award will be given this Sunday at the closing of this year’s All-Star Game in Chicago. Both teams will be captained by Giannis Antetokounmpo and Lebron James respectively. Team Lebron will put on No 2 and team Giannis will put on No 24. These two numbers were worn by Gianna, Kobe’s daughter and Kobe Bryant.
Recall that Kobe won the All-Star Game MVP in 2002, 2007, 2009, and 2011. Also, he played as the youngest player to feature in the All-Star Game at 19 in 1998.
Modibbo Kawu, the DG of the National Broadcasting Commission, NBC, has been put on suspension by President Buhari. This came following his corruption charges by the Independent Corrupt Practices, ICPC.
This development was confirmed by Armstrong Idachaba, NBC’s Director of Broadcast Monitoring. Further, the most senior director in the commission has been directed to take over from Modibbo Kawu.
Modibbo Kawu is currently facing a 12-count charge bordering on money laundering, abuse of office, and misleading a public officer with the intent of defrauding the government.
So, this contravenes Section 26 (1) (c) of the Corrupt Practices and other Related Offenses Act 2000 and punishable under Section 19 of the same Act.
Beisdes, Modibbo was first arraigned in May 2019 over the alleged misappropriation of N 2.5 billion for the digital switch-over (DSO) program of the government.
The Health Ministry in Egypt has confirmed the first case of the deadly Coronavirus. The authorities made this disclosure on Friday 14th February in a press release. They said the World Health Organization has been informed and the patient is in isolation for monitoring and treatment.
The patient’s nationality was not given. However, Egypt is the 28th country in the world to record Coronavirus and the first in Africa.
So, over 64,000 cases of the Coronavirus have been diagnosed around the world and 1,363 persons have been confirmed dead since its outbreak in Wuhan, China
