ABUBAKAR YUNUS Abuja
The Central Bank of Nigeria (CBN) has ordered deposit money banks and other financial institutions to ensure that weekly over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500, 000, respectively.
The apex bank made this known in a circular on Tuesday signed by CBN Director of Banking Supervision, Haruna Mustafa.
“Only denominations of N200 and below shall be loaded into the ATMs,” the bank also said, adding that the new policy is sequel to the launch of the redesigned N200, N500 and N1,000 notes by President Muhammadu Buhari on November 23, 2022.
More to follow…
