CBN Limits Cash Withdrawals

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The Central Bank of Nigeria has imposed fresh cash withdrawal limits on individuals and organizations.

A memo signed by the Director of Banking Supervision, Haruna Mustafa, stated that the directive will take effect from January 9, 2023.

According to the memo, 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 organisations can access N500,000 per week.

It also directed banks to load only N200 and lower denominations into their ATM.

Written by: Helen Obih

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Buhari Forwards Name of CBN Deputy Governor Nominees to Senate

President Muhammadu Buhari has forwarded the names of Aishah Ahmed and Edward Adamu to the Senate for confirmation as deputy governors of the Central Bank of Nigeria, CBN. Buhari’s request was contained in a letter read by the Senate President Ahmad Lawan during plenary. The President is asking the Senate to confirm the nominees to serve for a second and final term at the apex bank as deputy governors.

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