BREAKING: CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies
The Central Bank of Nigeria (CBN) has announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000, respectively, per week.
The revised cash withdrawal limit, contained in a circular issued today by the apex bank and seen by Nairametrics, will take effect nationwide on January 9, 2023.
More details shortly…