Cashless policy: Banks begin charges on transactions above N500,000 April 1

Banks across the country will on April 1 start imposing charges for cash transactions above N500, 000.

The Central Bank of Nigeria had asked the banks to implement the charges in the bid to encourage cashless transactions.

Some banks have informed their customers through emails that the implementation of the policy would begin in April.

Guaranty Trust Bank, for instance, informed its customers on Thursday that it would implement the charges on April 1.