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BREAKING: CBN limits cash withdrawals to N20,000 per day at POS; N100,000 per week from bank

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The Central Bank of Nigeria has limited cash withdrawal limits on individuals to hundred thousand naira weekly and will take effect from January 9, 2023.

According to a new memo to banks issued today and signed by the Director of Banking Supervision, Haruna B. Mustafa, individuals will only be able to withdraw N100,000 per week from over the counter, Point Of Sale Machines or the Automated Teller Machines, while organizations can access N500,000 per week.

Banks have also been directed to load only N200 and lower denominations into their ATM.

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