Cash Withdrawal Limit: Banks Suspend Transactions Via Naira Credit, Prepaid Cards James Emejo in Abuja In compliance with the Central Bank of Nigeria’s (CBN) currency redesign and cash withdrawal policy that limited withdrawals
In compliance with the Central Bank of Nigeria’s currency redesign and cash withdrawal policy that limited withdrawals across all channels to N500,000 weekly, banks have suspended further cash disbursement via customers’ Naira Credit and prepaid cards.
Following its currency redesign project, the CBN had announced an upward review of its cash withdrawal policy across all payment channels by individuals and corporate organisations. The central bank, in yielding to public pressure on the review, noted that it recognises the role that cash plays in supporting underserved and rural communities and would ensure an inclusive approach as it implements the transition to a more cashless society.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Governors invite Emefiele over naira redesign, cash withdrawal limit policies | TheCableThe Nigeria Governors’ Forum (NGF) has issued an invitation to Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, to attend a virtual meeting for discussions on the naira redesign policy.
Read more »
Nigerian governors invite Emefiele over naira redesign, cash withdrawal policyThe NGF said the discussion with Mr Emefiele on Thursday promises to foster participation and dialogue between various stakeholders including governments and civil society organisations.
Read more »
Abia PDP governorship candidate ill, says Gov IkpeazuSpeculations about Ikonne’s health challenge became rife, following his sudden withdrawal from public functions.
Read more »
Events that shaped Nigeria’s aviation sector in 2022Due to certain challenges, some airlines were forced to limit their operations in the country
Read more »
PoS operators rule out service charge hikeThe Association of Mobile Money and Bank Agents in Nigeria has said there are no plans to increase service their charges following the Central Bank of Nigeria’s decision to review cash withdrawal limits for Automated Teller Machines and over-the-counter withdrawals.
Read more »
EXCLUSIVE: Nigerian who opened 470 fraudulent bank accounts pleads guilty in USThe Nigerian will be sentenced on 20 January by a US district court for using about 470 bank accounts to defraud at least 10 American banks.
Read more »