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By Emmanuel Elebeke
The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim (Pantami), has hailed the decision of the Apex Bank, the Central Bank of Nigeria (CBN), to considerably reduce the cost of electronic cash transactions as well as Automated Teller Machine (ATM), card maintenance fees.
In a statement by his Spokesperson, Mrs. Uwa Suleiman, the minister said the digital decision will in no small measure contribute to the actualization of a Digital Economy, as lower service charges will encourage higher patronage of electronic services, especially in the banking and financial services sector.
“This directive from the regulator of the financial sector will in no small measure contribute to the actualization of a Digital Economy, as lower service charges will encourage higher patronage of electronic services, especially in the banking and financial services sector.,” said Pantami.
READ ALSO: CBN’s downward review of charges will enhance financial inclusion — expert
It will be recalled that the CBN recently directed all commercial banks in the country to reduce the cost of electronic cash transactions as well as Automated Teller Machine (ATM), card maintenance fees.
The Apex bank argued that such charges should be paid by the merchants rather than transferring same to unsuspecting and innocent consumers.
He encouraged all decision-making institutions in the country, to enact policies that will give support and key into the Digital Economy policy of President Muhammadu Buhari.
The post Pantami hails CBN on downward review of electronic transaction fees appeared first on Vanguard News.
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