Don Jazzy Reacts To The New Development On Deposit/Withdrawal Charge

Nigerian music producer; Don Jazzy has joined voices around the country, as they react to CBN’s plan to place a charge on deposits and withdrawals come 2020.

The policy was stated in line with the vision of a cashless economy, which CBN proposes will take effect from March 2020.

In a reaction to this, Don jazzy aired his view saying;  ‘my dear the whole thing just reeks of a desperate move to generate revenue. When they load their own stolen money in the bank, they don’t care whatever charges they have to pay’.

According to the circular, three percent processing fees will be charged for withdrawals and two percent processing fees for lodgements of amounts above N500,000 for individual accounts.

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