New naira redesign: CBN places limit on cash withdrawal
The Central Bank of Nigeria (CBN) has placed limits on over-the-counter cash withdrawals, Automated Teller Machine (ATM) withdrawals, and point of sale (PoS) withdrawals. CBN’s director of banking supervision, Haruna Mustafa, in a statement on Tuesday, directed that over-the-counter cash withdrawals by individuals and corporate entities should not exceed ₦100,000 and ₦500,000, respectively, per week. […]
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