CBN, under Mallam Lamido Sanusi, in a recent directive to all banks operating in Nigeria stated that the annual fee replaces the monthly card maintenance fee, which banks were charging their customers in the past and besides, the new directive is expected to take an immediate effect.
It could be re-called that over the years, Nigerian bank customers have grumbled over the erratic and reckless manners some banks have been deducting money from their accounts in the name of maintenance fee and other charges.
With the CBN directive, it is expected that the burdens of bank customers is now been made lighter.
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