The Central Bank of Nigeria (CBN) has increased the withdrawal limit on domiciliary accounts, as the apex bank continues to reform the foreign exchange policies.
CBN has been reviewing the foreign exchange policies under the suspended CBN Governor, Godwin Emefiele, as President Bola Tinubu looks to increase forex supply in the FX market to stabilise exchange rates.
In a circular sent to Deposit Money Banks (DMBs) and released on Sunday, but dated June 16, 2023, the CBN said the domiciliary account withdrawal limit has been increased to $10,000 per day.
