About N714.61 billion was charged from bank customers in the first nine months of 2022 in Nigeria.
punchnewspapers Eleven banks charged their customers N714.61bn for electronic fees and other forms of commissions in the first nine months of 2022.
These charges were from electronic fees and other forms of commissions, according to PUNCH.
The nine-month financial reports of the banks show a 16.92 per cent increase from the N611.21 billion earned by the banks from the income source in the corresponding period of 2021.
The banks included: Zenith Bank Pie,Sterling Bank Pie and Subsidiary, Stanbic IBTC Holdings Pie, Wema Bank Pie, Fidelity Bank Pie, and Union Bank of Nigeria Pie.
This was enabled via the cashless policy initiated by the Central Bank of Nigeria (CBN) in July 2013.
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