Tag: Cash Withdrawal
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Just In: Cash policy fallout as NFIU bans cash withdrawals from public accounts
The Nigeria Financial Intelligence Unit (NFIU) has banned all banks from executing demands for cash withdrawals from all public accounts. This is apparently one of the fallouts of the new cash policy as NFIU Head, Moddibo Haman Tukur, said this has become necessary to stop the rate at which cash was being taken out of…
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Nigerians warned against huge physical cash withdrawals
The Nigeria Financial Intelligence Unit (NFIU) has warned both public and private entities against massive cash withdrawals.
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Cash withdrawal limit not based on politics – CBN
The Central Bank of Nigeria (CBN) says its policy of cash withdrawal limit is not based on politics, contrary to insinuations. Mrs Aisha Ahmad, the Deputy Governor, CBN, said this in Abuja on Thursday
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UPDATE: Read full statement by CBN restricting cash withdrawal
The Central Bank of Nigeria (CBN) on Tuesday announced a new policy that mandates banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively, per week.
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BREAKING: CBN puts restriction on cash withdrawal
The Central Bank of Nigeria (CBN) has announced a new policy that mandates banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively, per week.
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Nigerian banks stop cash withdrawal from ATMs abroad
Commercial banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally. Recall that banks have been encouraging travellers to open and fund dollar accounts, which aside having no spending limits, provide them the flexibility to spend at all times. The lenders…