Nigeria’s central bank has announced substantial increases in limits on weekly cash withdrawals following pressure from the public. The decision late on Dec. 21 came two weeks after the Central Bank of Nigeria (CBN) imposed restrictions on weekly cash withdrawals to limit the use of…
ABUJA, Dec 21 (Reuters) – Nigeria’s central bank on Wednesday substantially increased limits it had set on weekly cash withdrawals as part of an effort to curb the use of cash. Individuals will be allowed to withdraw up to 500,000 naira ($1,120) weekly, up from…
Abuja, Nigeria — The Central Bank of Nigeria has raised the maximum weekly limit for cash withdrawals after a public uproar over the caps it announced two weeks ago. The new limit is five times higher than the initial cap for individuals and ten times…