Edeson Radio

Nigeria's Most Authoritative And Up-To-Date News Blog

Thanks for visiting this news blog. Kindly follow Edeson Online News on Facebook, Instagram & Twitter, to get the latest in Entertainment, Sports, Politics,World News, Sex, Relationships, Education, History, ICT Tutoriasl Free downloads, Motivation and Lots More. Facebook: Endy Edeson. Instagram & Twitter: @EndyEdesonNews

Like Edeson Online News on Facebook

Cheap Website Hosting

Reliable Web Hosting in Nigeria by DomainKing.NG

Thursday, 4 December 2014

BANKING INFO: - Central Bank of Nigeria To Introduce Lower Denominations On Atms -

The Central Bank of Nigeria (CBN) is planning on introducing lower denomination of N200 and N100 on automated teller machines (ATMs) nationwide, the Daily Independent reports. “We are working towards having the mix of lower and higher denominations and we believe that this will be acceptable by Nigerians and will further enhance the use of ATMs and promote cashless policy further into the rural areas and also drive the policy of financial inclusion”, Head, Payment System Policy and Oversight Division
of Banking and Payments Department of the CBN, Mr Musa Iteopa-Jimoh, said. He said the introducing lower denominations is good for the apex bank than the current situation where higher denominations are available as it will serve as deterrent for those who want to withdraw huge amounts, because it will be
difficult to carry huge amount from ATM points.
He, however, stated that the reason why banks are not putting lower denominations is the cost of processing lower denominations and that the banks find it easy to put higher denominations there because it will mean more money in the machine and the introduction of lower denominations will mean
constant loading of the

Bussy Duro and 2 others like this.

Tinuhannis George

Better fa..especially 4 students

Bertha Nnaji Steve

so that there will be nothing left for us to save.

Bussy Duro

Abi.its gud o

Receive all updates via Facebook. Just Click the Like Button Below

Powered By Blogger Widgets