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,…
THE Central Bank of Nigeria has ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again. Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to…
THE Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, has said the amount spent on maintaining the naira has increased by N10bn annually. Ahmad, who revealed this on Friday during her appearance before the House of Representatives…
THE Central Bank of Nigeria has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The directive is contained in a circular issued by the bank on…
BANKS have reduced the volume of new naira notes they dispense to customers per cash withdrawal by about 50 per cent leading to increased anxiety over the January 31st deadline when the old notes will cease to be legal tender.…
THE naira was this year under so much pressure such that its value dropped to the lowest ever at around N900 to the dollar, a situation that was prompted by several factors. Aside from speculators pushing the value of the…
THE Arewa Consultative Forum (ACF) has identified a flaw in the Central Bank of Nigeria’s implementation of cash withdrawal limits (CBN). The central bank recently announced a policy limiting individual cash withdrawals from commercial banks to N20,000 per day, N100,000…
Invites applications for Regulatory Sandbox operation The Central Bank of Nigeria (CBN) has disbursed the sum of N9.714 trillion through various intervention funding programes across several real sector industries. According the bank’s Development Finance Department (DFD) Report made available at its…
THE Central Bank of Nigeria (CBN) yesterday insisted on the N100,000 withdrawal limit for individuals adding that the policy was introduced in 2012. The bank has succeeded in convincing the Senate Committee on Banking, Insurance and other Financial Institutions of…
*N500,000 for corporate organisations, N100,000 for individualslN20,000 maximum daily ATM withdrawal *It’ll put us out of business — Mobile money agents The Central Bank of Nigeria (CBN) has restricted cash withdrawals from over-the-counter, Automated Teller Machines (ATMs) to N100, 000…
