Over 20 Deposit Money Banks on Monday began the implementation of the Central Bank of Nigeria’s new cash withdrawal limit policy across the country with bank customers expressing anger over the new rule.
The Governor of the CBN, Godwin Emefiele, had on December 21, 2022, bowed to pressure and revised the bank’s earlier cash withdrawal limits.
The CBN reviewed upwards the maximum weekly limit for cash withdrawal across all channels by individuals and corporate organisations to N500,000 and N5m respectively.
The CBN attributed the development to the feedback it got from stakeholders.
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