The Central Bank of Nigeria (CBN) has limited the amount individuals can withdraw per day, as they tell banks to load N200 notes and lesser denominations in ATMs to control this....CONTINUE READING THE FULL ARTICLE>>>
New cash withdrawal restrictions have been set by the Central Bank of Nigeria (CBN) and they go into effect on January 9, 2023.
Individuals will only be permitted to withdraw N100,000 per week (from ATMs, Point of Sale machines, or over the counter), according to a new memo to banks sent out on Tuesday and signed by the CBN Director of Banking Supervision, Haruna B. Mustafa. Organizations will be permitted to access N500,000 per week.
Additionally, banks have been told to only load N200 and lesser denominations into their ATMs. Seeing this, Nigerian have come out to express their displeasure at this decision.
