Preamble
The "Guide to Bank Charges" provides a standard for the application of charges on various types of services rendered to customers of banks. This Guide has been drawn up bearing in mind the need to ensure flexibility and competitiveness required to deliver superior service to customers in a deregulated Nigerian economy. It also serves to align Nigerian Banking practices with international best practices and global financial standards.

The Guide to Bank Charges shall be applicable to all classes of customers of banks including individuals, corporates, governments (Federal, State, Local and their parastatals), and non- governmental organizations. Whereas the Guide to Bank Charges provides for charges on various products and services of banks, it is however not exhaustive,

The Guide to Bank Charges shall apply to both local and foreign currency deposits and lending transactions. Charges stipulated as negotiable in the Guide to Bank Charges shall be negotiated with reference to particular bank's policy. All commissions and charges stated in this Guide are subject to applicable taxes.

This Guide replaces the existing Bankers Tariff end may be reviewed and updated annually to reflect changes within the business environment. This Guide was approved on December 23, 2003 and takes effect from January 1, 2004.

CONTENTS

SECTION 1	INTEREST ON DEPOSITS
SECTION 2	INTEREST RATES/LENDING FEES
SECTION 3	COMMISSION ON TURNOVER
SECTION 4	COMMISSION ON BONDS, GUARANTEES & INDEMNITIES, etc
SECTION 5	FOREIGN EXCHANGE COMMISSION
SECTION 6	BILLS FOR COLLECTION
SECTION 7	STRIAGHT FORWARD HANDLING OF DOCUMENTS
SECTION 8	INWARD & OUTWARD LETTERS OF CREDIT
SECTION 9	INTERNAL TRANSACTION
SECTION 10	ELECTRONIC BANKING