The Central Bank of Nigeria, CBN, has announced the withdrawal of its earlier directive on nationwide implemwntation of Cashless policy. 
The bank also announced the suspension of withdrawal and deposit processing fees charges above the threshold of N500,000.
The apex bank had issued a directive on the nationwide implemenation of the Cashless policy vide its circulars with reference numbers BPS/DIR/GEN/CIR/04/001 dated 21st February, 2017 and BPS/DIR/GEN/04/002 dated 16th March this year.
“Please note that new withdrawal and deposit processing fee charges above the threshold, as contained in the circulars referenced above, are hereby suspended until further notice,” the banking and payment statement department of the CBN said.
The circular that was obtained from the bank’s website said “the new charges already applied effective 1st April, 2017 as contained in the circulars in the reference above, should be reversed.”
The CBN, however, causioned that the existing policy prior to the announcement of the new policy as earlier implemented in Lagos, Ogun, Abia, Anambra, Rivers States as Abuja remain in force.
The CBN on Friday, April 21, 2017, also established a Forex widow for investors and exporters codenamed: ‘Investors’ & Exporters’ FX Window’.
In a circular, the CBN said the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. 
Signed by Alvan Ikoku, the Bank’s director in charge of Financial Markets, the circular listed eligible transactions under the new window to include invisible transactions such as loan repayments, loan interest payments, Dividends/Income Remittances, Capital Repatriation, Management Service Fees and Consultancy fees, among others.