‘Its desperate move to generate revenue’- Don Jazzy reacts to CBN’s bank charges policy

The CEO of Mavin Records, Don Jazzy has reacted to CBN’s latest policy to attach charges to cash deposits or withdrawals made by customers.

The CBN had earlier announced that deposits or withdrawals above N500,000 by customers will attract charges going forward.

According to the apex bank, the objective of the “transaction fees” is to give vent to the Central Bank’s policy designed to reduce cash in use.

CBN, in a statement signed on Tuesday by its  Payments System Management Department Director, Sam Okojere  announced the take-off of the charges.

Reacting via his verified twitter handle, Don Jazzy alleged that  the purpose of the new policy was an act of desperation to generate revenue.

“My dear, the whole thing just reeks of a desperate move to generate revenue.

“When they load their own stolen money in the bank, they don’t care whatever charges they have to pay”, the Nigerian music producer tweeted