Bank customers in Nigeria will now pay not less than N1.462 billion about $4.6 million to banks as card maintenance charges every month on naira debit and credit cards.
This is totaling N17.544 billion about $55.6 million annually, as the revised Guide to Bank Charges take effect from this month.
The Central Bank of Nigeria had revised the card maintenance charges in the new guide which was released last month from N100 annually to N50 monthly.
Data released recently by the Nigeria Inter Bank Settlement System for banking transactions in the country, show that as at September 2016, there are 29.24 million active cards being used by the 63 million active bank customers.
Acting managing director of the Bank of industry says the development bank has performed very well over time.
He also explained that more will be done particularly at this time that when the country is moving away from dependence on revenue from crude oil proceeds.