The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5million, respectively.
The CBN said this in a letter addressed to banks on Wednesday.
This, according to the Apex Bank was as a result of feedback received from stakeholders.
The Apex Bank had weeks ago pegged weekly cash withdrawal limit at N100,000 for individuals and N500,000 for corporate. CBN’s N20,000 daily withdrawal illegal — Falana
The decision that has generated issues with some Nigerians backing the CBN on its decision while others condemned the limit.
Details Later…
