The Central Bank of Nigeria (CBN), on Tuesday, December 6, 2022, introduced a new policy to the financial sector players, reducing cash withdrawals.
In a notice addressed to Deposit Money Banks (DMBs) and cited by BizWatch Nigeria, the apex bank noted that starting from Monday, January 9, 2022, cash withdrawals over the counter to N100,000 for individuals and N500,000 for organisations regardless of their size.
This development came as the CBN prepares to effect a change of naira notes in circulation starting next week, precisely on Thursday, December 15.
More to follow…
