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HomeNewsNaira Redesign: CBN To Limit Cash Withdrawals Starting From Jan 9

Naira Redesign: CBN To Limit Cash Withdrawals Starting From Jan 9 [Memo]

The Central Bank Of Nigeria, CBN has dished out fresh imposure on cash withdrawal limits on individuals and organisations.

This is coming few weeks after the redesigned naira notes were unveiled by President Muhammadu Buhari.

In a new memo to various banks issued out today, Tuesday and signed by the Director of Banking Supervision, Haruna .B. Mustafa, stated that individuals will only be able to withdraw N100,000 per week ( from over the counter, Point of Sale Machines or the Automated Teller Machines), while organisation can access only N500,000 per week.

Also Banks have also been directed to load only N200 cash and lower denominations in to their ATMs for customers.

Other informations were also shared.

See memo below:

B20B014F 51F9 4B8C A6AF 89D0E9036321

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