Economy

CBN increases individual cash withdrawal limit to N500k per week

By accuratenewsng 21/12/2022

The Central Bank of Nigeria has increased cash withdrawal limit for individuals and corporate organisations to N500,000 and N5 million per week respectively.

This was contained in a letter to all Deposit Money Banks (DMBs) and other financial institutions by CBN Director of Banking Supervision Haruna Mustafa.

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The new directive came after the initial one by CBN where cash withdrawals were pegged at N10,000 and N500,000 for individuals and corporate organisations respectively.