The Central Bank of Nigeria (CBN) recently announced that the full implementation of the cashless policy will begin from March 31, 2020.
In the circular that was captioned, “Re: Implementation of the Cashless Policy,” and sent to all banks, CBN announced the start of charges on deposits which will be in addition to the already existing charges on withdrawals.
According to CBN, the charges, which will be effective from today, would attract three per cent processing fees for withdrawals and two per cent processing fees for lodgements of amounts above N500,000 for every account.
Reacting, Don Jazzy shared this, “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”
Do you agree with him?
Michael Collins Ajereh, better known as Don Jazzy, is a Nigerian record producer, singer, songwriter and entrepreneur. He co-founded the now defunct record label he is a justice amadinMo’ Hits Records in 2004. Following the closure of the aforementioned record label, Don Jazzy set up Mavin Records on May 8, 2012.
Ajereh is Isoko from Delta State. His mother is an Igbo princess from Abia state and his father was an origin of the Isoko people. He was born in Umuahia, Abia State. His family moved to Ajegunle, Lagos where Ajereh was raised.
Ajereh’s family moved to Ajegunle, Lagos where Ajereh was raised. He was educated at the co-educational high school, Federal Government College Lagos. Ajereh found an interest in music early in life and at age 12, began to play the bass guitar. He also gained knowledge of traditional and percussion instruments. Ajereh enrolled in business management studies at the Ambrose Alli University, Ekpoma, Edo state.
In 2000, Ajereh visited London. His uncle had invited him to play the drums for the local church. In London, Ajereh gained employment at McDonald’s as a security guard. He continued his interest in music, associating with Solek, JJC, Kas, The 419 Squad and D’Banj. Ajereh learnt producing skills from Emeka Infiniti at O-Town record company.