YOBE STATE GOVT APPROVES ENROLLMENT OF RETIREES INTO THE STATES HEALTHCARE MANAGEMENT. (PHOTO).

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 YOBE STATE GOVERNMENT APPROVES ENROLLMENT OF RETIREES INTO THE STATES HEALTHCARE MANAGEMENT  Yobe state government has approved the enrollment of the state and local government retirees into the state  contributory  Healthcare Management Agency (YSCHMA) social equity programme, marking a significant milestone in the state's effort to strengthen social protection and expand access to quality healthcare . Announcing the development, the Executive Secretary of the Agency ,Dr Babagana Tijjani said the initiative is designed to eliminate the financial burden of our of pocket health care expenditure among pensioners by providing them with access to comprehensive, affordable and quality healthcare services through YSCHMA accredited health facilities across the state.                 According to Dr Tijjani, the approval reflects Governor Buni's unwavering commitment to improving the welfare of retirees and ensuring that senior c...
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CBN EXTENDS SUSPENSION OF CASH DEPOSIT CHARGES. (PHOTO).

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 CBN extends suspension of cash deposit charges


The Central Bank of Nigeria (CBN) has extended the suspension of charges on cash deposits above certain thresholds.

The new directive, effective immediately, will see Nigerians continuing to deposit cash without incurring processing fees until September 30th, 2024.

This announcement comes after a brief period of confusion. On May 1st, banks resumed charging processing fees on cash deposits, in response to the CBN’s “Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions” issued in December 2019.

These fees were two per cent for individual accounts exceeding N500,000 and three per cent for corporate accounts exceeding N3 million.

The CBN, in a new circular signed by Adetona Adedeji, Director of Banking Supervision, referred to a previous suspension of these charges implemented in December 2023 and officially extended that suspension until the end of the third quarter of 2024.

The latest circular reads: “Please refer to our letter dated December 11, 2023, referenced BSD/DIR/PUB/LAB/016/023 on the above subject, suspending processing charges imposed on cash deposits above N500,000 for Individuals and N3,000,000 for Corporates as contained in the “Guide to Charges by Banks, Other Financial Institutions and Non-Bank Financial Institutions” issued on December 20, 2019.

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