Central Bank of Nigeria has directed all commercial banks in the country to limit cash withdrawal...

The Central Bank of Nigeria (CBN) has directed all commercial banks in the country to limit cash withdrawal via the Automated Teller Machines (ATM) or Point of Sale Machines (POS) to N100,000 per week.

According to a memo issued by the CBN to all banks on Tuesday and signed by the Director of Banking Supervision, Haruna .B. Mustafa, individuals will only be able to withdraw N100,000 per week, while organisations can access N500,000 per week.

Banks have also been directed to load only N200 and lower denominations into their ATM..

The CBN directives will take effect nationwide from January 9, 2023..
Source: News Agencies