According to the new directive, 2% will be deducted on deposit over N500,000, and 3% will be deducted when withdrawing above the same out.
The former lawmaker has described this as a selective way of extorting people who make such amounts.
See his tweet below:
The new directives to Banks amounts to selective corporate extortion.
— Senator Shehu Sani (@ShehuSani) September 18, 2019