Revised cash withdrawal limit: CBN directs banks to load N200 notes or less in ATM machines.
Revised cash withdrawal limit: CBN directs banks to load N200 notes or less in ATM machines.
The Central Bank of Nigeria on Tuesday instructed commercial banks to ensure that only N200 notes or below are loaded in Automatic Teller Machines (ATMs).
The apex bank also pegged over-the-counter cash withdrawal by individuals at N100,000 per week while corporate organisation are limited to N500,000 weekly.
The directive which is contained in a circular by the regulatory bank on Tuesday, added that withdrawal above the stated amounts, shall attract processing fee of 5 percent and 10 percent respectively.
“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.
“The maximum cash withdrawal per week via Automated Teller Machine (ATM) shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.
