Tag: Withdrawal Limits
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INVESTIGATION: Scarcity of new Naira notes causes hardship for Nigerians
The newly introduced naira notes and revised cash withdrawal limits announced by the Central Bank of Nigeria (CBN) to curb crime, inflation and vote buying during elections, have left many citizens stranded and frustrated, TheNewsGuru.com (TNG) investigation has revealed.
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Nigerians don’t withdraw more than N.5m weekly – CBN
The Central Bank of Nigeria (CBN) has disclosed that Nigerians do not withdraw more than N500,000.00 on a weekly basis, stressing that 94% of all cash transactions fall below the N500,000.00 new weekly cash withdrawal limit for individuals.
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CBN lists benefits of cash withdrawal limits policy
The Central Bank of Nigeria (CBN) has identified the reduction of cost of cash management and incidences of crime as some benefits of its policy on cash withdrawal limits.
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Cash withdrawal limit: Reps grill Deputy Governor of CBN
Lawmakers at the House of Representatives during plenary on Thursday grilled Mrs Aisha Ahmad, the Deputy Governor of the Central Bank of Nigeria (CBN) over the apex bank’s policy on cash withdrawal limit.
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UPDATE: CBN sends out strong warning over cash withdrawal limits
The Central Bank of Nigeria (CBN) on Wednesday announced an upward review of cash withdrawal limits to N500,000 and N5 million for individuals and corporate accounts respectively.
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CBN explains new cash withdrawal limits to Senate
The Central Bank of Nigeria (CBN) on Friday offered an explanation to Senate Committee on Banking, Insurance and other Financial Institutions on the need for the cashless policy, limiting cash withdrawal for individuals to N100,000 and Corporate Bodies to N500,000 per week.
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Redesigned Naira notes now in banks – CBN Gov, Emefiele
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has said the newly redesigned Naira notes are already in banks and ready for issuance.
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Buhari has my backing, cash limits sacrosanct – Emefiele
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has disclosed the cash withdrawal limits policy is sacrosanct and that it has the backing of President Muhammadu Buhari.
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UPDATE: Cash withdrawal limits too sudden, harsh on Nigerians – Reps tell CBN
The House of Representatives on Thursday asked the Central Bank of Nigeria (CBN) to immediately suspend its latest policy on revised cash withdrawal limits.