The banking industry may yet again send scores of its workers to the job market this year following rising cost of running their business, analysts have said.
The rising overhead cost is mostly a fallout of the Central Bank of Nigeria (CBN) directives to deposit money banks (DMBs) to reduce charges on turnover (COT) from N5 per N1,000 to N3 and the removal of the N100 charged by banks for withdrawal of money through automated teller machines (ATMs).
Part of the fallout is that most banks now keep one ATM operational at a time in a bid to save cost. Most banks that have three or more ATMs have one or more out of operations as the weight of servicing becomes heavier with the removal of N100 charges.
http://nigeriannews.com/
The rising overhead cost is mostly a fallout of the Central Bank of Nigeria (CBN) directives to deposit money banks (DMBs) to reduce charges on turnover (COT) from N5 per N1,000 to N3 and the removal of the N100 charged by banks for withdrawal of money through automated teller machines (ATMs).
Part of the fallout is that most banks now keep one ATM operational at a time in a bid to save cost. Most banks that have three or more ATMs have one or more out of operations as the weight of servicing becomes heavier with the removal of N100 charges.
http://nigeriannews.com/
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