CBN Increases Cash Withdrawal Limit

12/22/2022 35

The Central Bank of Nigeria, CBN, has increased the maximum weekly limit for cash withdrawals by individuals and corporate organizations to N500,000 and N5 million, respectively.

The directive was contained in a circular signed by the director of banking supervision department, Haruna Mustafa.

According to the circular, the apex bank made the upward review based on feedback received from stakeholders.

This comes two weeks after the CBN reduced the weekly over-the-counter cash withdrawal limit for individuals to N100,000 and that of corporate organizations to N500,000.

Written by: Helen Obih

Rate it

politics

INEC Laments Attack on Office in Imo

The Independent National Electoral Commission, INEC, has lamented the attack on its office in Imo State. A statement signed by the National Commissioner and Chairman, Information and Voter Education Committee, Festus Okoye, said the attack, which was carried out on Tuesday, left eight windows smashed and burglary proofs removed. The statement noted that ballot boxes and voting cubicles had been evacuated to another INEC facility for safe keeping. It stated […]

12/22/2022 15