Following the trend of 2013, Nigerian banks have continued to wade through tides, finding ways to thrive amidst changes in the regulatory and business environment – with the outcome of each bank’s strategic response becoming more quantifiable. Despite the change of its helmsman, the Apex Bank has remained focused on its mission of consumer protection and value creation and has delivered economic value to bank customers in 2014. Though there was the re–introduction of inter–bank ATM charges of N65 after four withdrawals, the reduction of Commission On Turnover (COT) to N2 per mille; removal of charges on cash deposits; and the complete removal of COT on public funds reflect the CBN’s continued commitment to its mission.
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