From now on, all customer initiated debit transactions will be subjected to a fee not exceeding One Naira (1.00 NGN) per One Thousand Naira (1,000 NGN) transacted from a customer’s current accounts.

This is in line with the Central Bank of Nigeria’s latest circular recommendations to all Banks to implement provisions in the Revised Guide to Bank Charges (RGBC), which proposes a negotiable maintenance fee on current accounts.