POS operators vow to protest, sue CBN over cash limit policy

Members of the Association of Mobile Money and Bank Agents (AMMBAN) have threatened to take their protest of the cash withdrawal limit to the streets and court.

The National President of the association, Victor Olojo, said Mobile Money Agents will protest the cash withdrawal limit if the Central Bank of Nigeria (CBN) doesn’t revise the policy.

Ripples Nigeria had reported that the financial regulator directed banks to limit over the counter withdrawal to N100,000 for individuals and N500,000 for businesses.