All you need to know about CBN’s new currency policy effective January 9, 2023

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*Daily ATM withdrawal*: #20,000
*Daily POS Withdrawal*: #20,000
Above #20,000: Must be done electronically

*Weekly Withdrawal Limit*: #100,000

*Highest Denomination to be dispensed by ATM*: #200 notes.

Naira Redesign: CBN limits cash withdrawal

*Maximum withdrawal at the Counter weekly*: (Individual) #100,000

*Maximum withdrawal at the Counter weekly* (Corporate Organization) #500,000

*Processing Fees for withdrawal above limit*

(a) Individual: 5% Processing Fee

(b) Corporate Organization: 10% Processing Fee

*3rd Party Cheque above #50,000 not eligible for payment above the counter*

(C) Haruna B. Mustafa
*Director Banking Supervision*
*Central Bank of Nigeria*

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