has put a limit on cash withdrawal made by individuals and organisations with effect from January 9, 2023.
In the new development, CBN directed that only N200 and lower denominations should be loaded into banks’ ATM machines. “Third-party cheques above N50,000 shall not be eligible for payment over the counter, while extant limits of N10,000,000 on clearing cheques still subsist,” it read.
That is good.will it work?
May God save us from this APC lead government
With the present inflation rate, high rate of electronic fraud and inconsistent bank network service the policy is wrong. Although where things are working well,the policy is good but here in Nigeria where they can't trace electronic fraud, it's going to be a disaster.
The market woman that goes to 'Bush market' will then do what?
Good one. CBN. Limit the circulation of N200, N500, N1000 to the barest minimum
POS business is about to crash. Nigeria government always love to frustrate the citizens.
Una must use e-naira
Fake news
This will not work. How can you say maximum withdrawal in a week is 100k, meaning a day is 20k whereas a bag of rice is N35k....
We will start burying money for ground.
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