CBN cash withdrawal limit don start.
Di Central Bank of Nigeria policy on daily cash withdrawal limit don start today across di country , Monday, January 9.
Dem say di maximum weekly cash withdrawal limit for all channels by individuals and corporate organisations go be N500,000 and N5 million, respectively.
Individuals or organisations wey go need to withdraw above di cash withdrawal limit go pay processing fee of three per cent and five per cent respectively.
Di financial institutions go collect some information from di customer. Those information go dey uploaded to di CBN portal wey dem create for that purpose.
Some of di informations go be Valid means of identification of di payee (National ID, International Passport, or Driver’s License); Bank Verification Number of di payee; Tax Identification Number of di payee and di payer; Approval in writing by di Managing Director/Chief Executive Officer of di financial institution authorising the withdrawal.
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CBN don order Deposit Money Banks make dem no pay new naira notes to customers wey dey do over-the-counter withdrawals.
Instead, di apex bank direct di banks make dem load di Automated Teller Machines with only new notes so that di new naira note go circulate across di nation ahead of di January 31, 2023 deadline when old notes no go be legal tender again.
According to some reports, dem Apex bank say make dem no waste time dem load di ATM.
But, as of Friday, di banks no comply with di directive. Dem complain di new naira note no dey enough and na wht dem still load old naira notes for machine.
