The Central Bank of Nigeria has reduced the download fee for automatic use of the phone from other banks on Sundays from N65 to N35. A fee for a N35 ATM should be charged to the customer after the third payment per month. This new policy focuses on the new bank fee guidelines published by CBN on Sunday. In addition, the card management fee for all cards associated with the account has now been canceled, and the bank is required to charge up to N1 per million for direct debit and other bank customers for electronic transfers or deposits. Management also guarantees up to 1% of APG value in the first year and 0.5% of contingent liabilities in the first year. CBN warned banks to fully comply with the new guidelines, adding that all banks that violate the guidelines will be sanctioned.

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