This is contained in the new guidelines for banks, other financial, and non-bank financial institutions released by the apex bank on Sunday in Abuja.

According to Mr Isaac Okorafor, the bank’s Director, Corporate Communications Department, the guidelines will take effect from Jan. 1, 2020.

Okorafor, while briefing newsmen said the step was in furtherance of the bank’s quest to make financial services more accessible and affordable to various stakeholders in the economy.

He explained that some major highlights of the new guidelines included the removal of Card Maintenance Fee (CAMF) on all cards linked to current accounts.

He said there would be a maximum of one Naira per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other banks on current accounts only.

Okorafor explained that it all involves a reduction in the amount payable for cash withdrawals from other banks’ Automated Teller Machines as Remote-on-Us transactions.

The director said the reduction was from N65 to N35 after the third withdrawal within one month.

According to him, other reductions include Advance Payment Guarantee (APG), now pegged at a maximum of one per cent of the APG value in the first year and 0.5 per cent for subsequent years on contingent liabilities.

On debit card charges, Okorafor said that the new guide stipulated that a one-off charge of N1,000 applied to the issuance of cards, irrespective of card type regular or premium.

He noted that the same one-off charge of N1,000 applied for the replacement of debit cards at the customer’s instance for lost or damaged cards.

According to Okorafor, upon expiry of existing cards, customers are to pay the same one-off charge of N1,000 irrespective of card type and no charge should be required for pre-paid card loading or unloading.