The Central Bank of Nigeria (CBN) on Tuesday released a new policy directive on cash withdrawal limit across banks and financial institutions in the country.
According to a statement by the apex bank, over the counter withdrawals for individuals would henceforth be limited to N100,000 for individuals and 500,000 for corporate organizations per week.
It was gathered that the new policy mandates banks and other financial institutions to ensure that individuals and corporate bodies do not exceed the just revised limit.
The revised withdrawal limit is expected to take effect nationwide as from January 9, 2023.
More to follow…