Nigeria: 90 Percent of Banking Public Subsidises Transaction Cost for 10 Percent Rich - CBN

About 90 per cent of the nation's banking public currently subsidise the high costs of cash-based transactions incurred by the 10 percent privileged who are the high end users of cash in the system.

This is even as the Central Bank of Nigeria (CBN) has said unless 90 percent of the banking population will continue to subsidise 10 per cent of the rich that withdraws above N150,000 per transaction.

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