EXPLAINER: How CBN’s cash withdrawal policy will see Nigerians help govt repay its huge N42trn debt. ⁩

On Tuesday, 6 December 2022, the Central Bank of Nigeria (CBN) announced fresh cash withdrawal limits on individuals and organisations.

The policy will become effective on January 9, 2023.

The memo showed individuals would be limited to N100,000 per week in withdrawals (through over-the-counter, point-of-sale, or automated teller machines), while businesses will be limited to N500,000 per week.

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