The Central Bank of Nigeria's policy on restriction on daily cash withdrawal takes off across the country today, Monday, January 9.
The Central Bank of Nigeria’s policy on restriction on daily cash withdrawal takes off across the country today, Monday, January 9.reports that in this arrangement, the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations, respectively.
The financial institutions are also expected to obtain the following information from the customer, at the minimum, and upload same on the CBN portal created for the purpose: Valid means of identification of the payee ; Bank Verification Number of the payee; Tax Identification Number of both the payee and the payer; Approval in writing by the Managing Director/Chief Executive Officer of the financial institution authorising the withdrawal.
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