The Central Bank of Nigeria (CBN) on Wednesday increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.
TOP MEDIA reports that the CBN disclosed this in a letter addressed to banks on Wednesday.
According to the apex bank, it made the decision based on feedback received from stakeholders.
Recall that the CBN recently pegged the weekly cash withdrawal limit at N100,000 for individuals, a development that has caused a fuss in the polity.
See the CBN’s latest letter below:
