The Central Bank of Nigeria has announced a downward review of charges for electronic banking transactions in its revised guidelines to charges by Banks, other Financial Institutions and Non-Bank Financial Institutions.

UGAMATV reports that this was confirmed in a circular released on Friday by the apex bank’s Director, Financial Policy and Regulation Department, Chibuzor Efobi, titled, “RE: GUIDE TO CHARGES BY BANKS, OTHER FINANCIAL AND NON-BANK FINANCIAL INSTITUTIONS.”

The circular stated that the review was in response to “further evolution in the financial industry in the last few years.”