By Miracle Ogunde

The First Bank of Nigeria has announced the reintroduction of processing fees on cash deposits to its customers.

This was contained in a recent notice sighted by Starnews NG.

According to the notice, “Effective 1 May 2024, our processing fees structure on cash deposits has been adjusted in accordance with regulatory requirements.

The notice reads further, “As a result, the following rates will apply:

2% processing fee on deposits above N500,000 for individual accounts.
3% processing fee on deposits above N3,000,000 for corporate accounts.”

Customers are therefore advised to contact the customer care lines for more enquiries.