Don Jazzy attacks CBN over new charges on bank transactions

Acclaimed music producer, Dohn Jazzy, has slammed the Central Bank of Nigeria over its just announced policy to charge bank customers for deposits beyond N500,000.
The CBN made the declaration on Tuesday, saying it was aimed at promoting cashless policy.
Don Jazzy is angry that the government is only trying to raise money by all means even as he slammed them for what he called protecting their own stolen
money: ‘My dear the whole thing just reeks of a desperate move to generate revenue. When they load their own stolen money in the bank, they don’t care whatever charges they have to pay,” he noted in a tweet.
The Central Bank of Nigeria (CBN) had announced that the full implementation of the cashless policy will become effective from March 31, 2020.
In the circular titled: “Re: Implementation of the Cashless Policy,” that was addressed to all banks, it announced the commencement of charges on deposits in addition to already existing charges on withdrawals.
According to the circular, the charges, which take effect from today, would attract three per cent processing fees for withdrawals and two per cent processing fees for lodgements of amounts above N500,000 for individual accounts.