CBN: A GOVERNING BODY THAT DOESN'T GOVERN

CBN

So friends, I am a bit confused . . .

The Central Bank of Nigeria, CBN, is asking bank customers to remain vigilant against excessive banking charges. . . so what exactly is the role of CBN???

These excesses have been perpetuated under the very watch of the CBN: 

• You pay to get a debit card to withdraw your money from your account. 
• You are charged a fee whenever you transfer money online or you withdraw money from an ATM. 
• You pay stamp duty for every transaction over NGN 1000. 
• Then to nail your coffin, you pay a Card Maintenance fee for the same card you paid to acquire.

Each year Nigerian bank announce huge profits without doing any real banking work of financial mediation. I guess it is time we cleaned the Augean Stables