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The Central Bank of Nigeria, CBN, has said the new cash withdrawal limits policy was approved without political consideration.
CBN’s Deputy Governor, Financial Systems Stability, Aisha Ahmed, explained that the CBN is an independent body that takes well-thought-out decisions.
Ahmed noted that 94 percent of all cash transactions in the country fall within the initial N100,000 while 82 percent of corporate transactions are below the N5 million threshold.
The Deputy Governor added that the new policy will limit costs associated with processing and moving cash as well as address terrorism financing.
President Muhammadu Buhari has approved the reappointment of Shekarau Omar as Executive Director, Small and Medium Enterprises for a second tenure. A statement issued by the Senior Assistant Media to the Minister of Trade and Investment, Ifedayo Sayo, revealed that Omar whose first tenure would be expiring on March 5, 2023, will now serve for another four years. The statement noted that the President also approved the appointment of Mabel […]
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