As the cashless policy of the Central Bank of Nigeria (CBN) kicked off yesterday, commercial banks in the country have begun implementation of the policy with customers unable to withdraw more than N500,000 in a week over the counter in the banking hall.
Most deposit money banks had issued emailed notes to their clients, as customers were similarly notified of the policy within the baking halls.
LEADERSHIP can confirm that individuals making cash withdrawals in the banking halls are being informed that they cannot withdraw more than N500,000 within a week with ATM withdrawals limited to N100,000 per day.
The policy, which kicked off on Monday, January 9, 2023, put a limit on how much cash individuals as well as corporates can withdraw from their accounts on a weekly basis.
