The Central Bank of Nigeria (CBN) has reviewed its over-the-counter withdrawal limits for all deposit money banks and other financial institutions in the country.
In a circular seen by RovingNaija on Tuesday, the CBN said maximum ATM withdrawal has now been reduced to N20,000 daily and N100,000 weekly.
- N100,000 and N500,000 weekly limit for personal and corporate accounts
- Amounts over that limit attract a 5% and 10% processing charge respectively
- Maximum withdrawal limit from ATM is N20,000 daily and N100,000 weekly
- Only N200 notes will be loaded into the ATM
- Maximum withdrawal via POS is N20,000 daily
- In exceptional cases and not more than once a month, the amounts of N5m and N10m for personal and corporate accounts can be accessed. This will require approvals and payments of all effective charges (5% and 10% respectively).
