ABUJA, Nigeria (VOICE OF NAIJA) – The Central Bank of Nigeria (CBN) has reviewed its plans to reduce the cash withdrawal limits for individuals and organizations.
In a circular released on Wednesday and obtained by voiceofnaija.ng, the CBN’s upward review states that individuals will now be able to withdraw N500,000 cash weekly while corporate bodies can take about N5 million cash across all channels including Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals.
A circular signed on Wednesday by Haruna Mustafa, the CBN Director of Banking Supervision, read in part: “The maximum weekly limit for cash withdrawal across all channels by individuals and corporate organisations shall be N500,000.00 and N5,000,000.00 respectively.”
Below is the circular made public by Nigeria’s apex bank on Wednesday evening:
