CBN Exempts Microfinance Banks and Mortgage Banks

CBN Exempts Microfinance Banks and Mortgage Banks from Cash Withdrawal Processing Fees

    Tosin Ade
    • August 1, 2023

    The Central Bank of Nigeria (CBN) has exempted microfinance banks (MFBs) and primary mortgage banks (PMBs) from paying processing fees for withdrawals above the cash withdrawal limits. This decision is aimed at enabling them to continue their role in the economy and provide specialized retail banking services to their customers.

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    Tosin Ade is a passionate lifestyle blogger with an eye for small business, fashion, tourism, and travel. With a penchant for exploring new cultures and experiences, Tosin brings a unique perspective to her writing, providing readers with insightful tips and tricks for living their best life. Whether it's through her travel stories or business savvy advice, Tosin's goal is to inspire others to pursue their passions and create the life they deserve.
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