CBN Makes New Policy, Limits Weekly Withdrawal To N100K | READ DETAILS
In a bid to ensure strict adherence to the cashless policy in the country, the Central Bank of Nigeria (CBN) has instituted a new policy which limits daily and weekly withdrawals.
According to a circular dated December 6, 2022, signed by Haruna B. Mustafa, Director of banking supervision, daily withdrawals on ATM’s, counters, and PoS will be N20,000; weekly withdrawal, N100,000 for individuals and N500,000 for corporate bodies effective from January 9, 2023.
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Withdrawals above the limits will attract a processing fee of 5% (individuals) and 10% for organisations.
Also, N200 and below denominations would be loaded in Automated Teller Machines.
READ CIRCULAR FOR MORE DETAILS:
