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BREAKING: Nigerians to pay ₦5,000 as CBN introduce ‘e-Form A’

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Bank operators in Nigeria are to pay whopping fees to the apex country’s financial institution following the newly introduced electronic form.

In a circulation issued by commercial banks to customers, the Central Bank of Nigeria (CBN) launched a digitalized version of ‘Form A’ named ‘e-Form A).

The redesigned soft copy would replace the hard copy normally used within commercial branches.

Despite not being profit-based, CBN has imposed residents in the country pay a sum of five thousand (₦5,000) outside of other related charges before using a copy.

Federal-owned schools, hospitals will begin to use the e-Form A from November 30th, 2021 including PTA/BTA and remittance transactions.

Previously documented data with hardcopy done on or before 30th November will be valid throughout thirteen (13) working days and be cancelled as the date elapsed.

Users are required to fill the e-Form A with Bank Verification Number (BVN) when applying for transactions online via the Trade Monitoring System (portal www.tradesystem.gov.ng).

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