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CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly (39425 Views)

CBN Increases Money Supply By 16.3% In June 2023 / Banks Raise ATM Cash Withdrawal Limit To ₦‎200,000 / CBN Drops ATM Withdrawal Limit To N20k/Day (2) (3) (4)

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Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by TheOgaBoss: 12:53am On Dec 22, 2022
CheapHomes1:


Based on your last paragraph, its very possible that emefiele is being vindictive because of the way he was outwitted at the APC primaries
did emefiele contest apc primary?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by tk4radi: 1:28am On Dec 22, 2022
Elemosho478:
‘N500k for individuals’ — CBN increases weekly cash withdrawal limit after public outburst



https://www.thecable.ng/breaking-cbn-increases-weekly-cash-withdrawal-limit-for-individuals-to-n500k/amp
So,, the daily limit is still N20K for individuals? or is it now N100k.??

They didn't say anything about the daily limit
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by gaddafe(m): 1:57am On Dec 22, 2022
habsydiamond:
Even if the masses accepted the previous policy I know our greedy politicians will never accept it cos how are they going to continue their money for votes strategy of winning an election. I pity this country seriously.

See if you have worked closely with any politician contesting a major election in Nigeria, you will know that law was not meant for the elite. It would have had a dangerous impact on small business and the economy. Nigerian politicians don't use naira, they use dollars. If you put any embargo whatever and they have dollars, all they will do is to change the dollar from BDC to naira.

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by baretalk: 2:19am On Dec 22, 2022
Emoc:



I dey tell you
The very bandits who finally destroyed the zoo must be destroyed.
Jagabandit baba blue bulaba & co
Meanwhile, election kee you dia. Ewu!
Kill your papa, whoore mother and useless sisters we fck for peanuts here. Flaat head cannibal Igbo tribe.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Elidrisy20: 3:02am On Dec 22, 2022
Where all the mouth wea emifiele do?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Probz(m): 3:08am On Dec 22, 2022
The way things are going very-few people In Nigeria at the moment have that kind of money to withdraw monthly anyway.

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Doyou2019: 3:10am On Dec 22, 2022
Kennyfancy:
They still won't be satisfied

500k weekly can't help vote-buying politicians. They of all people still won't be happy.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by wizelink(m): 3:42am On Dec 22, 2022
Finally, this man has succumbed to the requests of the greedy Money bags and made a mockery of the beautiful policy that would have put his name in the good book of Nigerians. Whatsoever policy or programme that does not benefit the money bags in Nigeria can never scale through because they will use every means to bring the initiator or the policy down. The masses are at the mercy of the money bags that stole their way to the limelight. It is surprising that the masses do not know the massive power they are wielding which when used appropriately can bring the needed positive change we all have dreamt of.
May God in His mercy deliver Nigeria from the shackles of these greedy men and women.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by descarado: 3:48am On Dec 22, 2022
grandstar:


It could be but I very much doubt it.

His present move is borne out of desperation has it seems he has lost control of the economy.

The Naira has fallen from 490 to a dollar to 740 today. It is a complete fiasco. Inflation is getting out of hand, and the economy is biting.

He has only himself and the president to blame. The president has the final say on which way the Naira's value will go and this is a desecration of the duty of the CBN.

This present government also been on a borrowing binge and has very little to cut government spending by ending the fuel subsidy or cutting down the size of the civil service.
The state of the naira has nothing to do with the cbn governor. Indices that makes currency strong isn't there. 100% the president's fault.

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by FireUpNow(m): 4:00am On Dec 22, 2022
habsydiamond:
Even if the masses accepted the previous policy I know our greedy politicians will never accept it cos how are they going to continue their money for votes strategy of winning an election. I pity this country seriously.
You are right and I also think that the CBN people failed to engage a wider consultation before making very hasty decision and also Nigeria is overly corrupt. As such the CBN cannot clean up the mess just like this
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by CheapHomes1: 4:18am On Dec 22, 2022
TheOgaBoss:
did emefiele contest apc primary?

What happened to him and the form he purchased?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Invest4growth: 4:29am On Dec 22, 2022
The upward review is adequate however it does not speak to the tech deficit in the telecoms sector. Also, the limit on daily interbank transfers is killing businesses. We hope the CBN can increase the.N1m interbank to accommodate more daily transactions rather than applying to banks for indemnity, which the banks may soon start charging. Why would it take a customer three days to exchange N3, million?

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Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Atlantis585: 5:25am On Dec 22, 2022
Elemosho478:
‘N500k for individuals’ — CBN increases weekly cash withdrawal limit after public outburst



https://www.thecable.ng/breaking-cbn-increases-weekly-cash-withdrawal-limit-for-individuals-to-n500k/amp

Will that be enough for the crooked vote buyer and all his BATstards?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by MrBroke(m): 6:07am On Dec 22, 2022
Nigerians are confused, you guys who were complaining about this policy saying it's for their own selfish interest now that the limit has been increased same you guys are still complaining still saying the same thing. Nigerians no doubt has bullshit leaders but the citizens are just some confused wacky ass people who don't know right from wrong

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Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by MrBroke(m): 6:09am On Dec 22, 2022
Invest4growth:
The upward review is adequate however it does not speak to the tech deficit in the telecoms sector. Also, the limit on daily interbank transfers is killing businesses. We hope the CBN can increase the.N1m interbank to accommodate more daily transactions rather than applying to banks for indemnity, which the banks may soon start charging. Why would it take a customer three days to exchange N3, million?



It can be increased. Mine is above N5 million for the day
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Emoc: 6:25am On Dec 22, 2022
baretalk:

baretalk the wretched urchin, nothing changes. Your USELESS ashewo mama remains cursed. tongue
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by rexesq(m): 6:31am On Dec 22, 2022
HateBigots:
The politicians finally won... Shithole country

It is not all about the politicians winning. I suffer to bank my money. And I starve to save for it to grow, yet no interest from the bank.

Now I go to transfer in the name of e-commerce but the bank tells me "network faliure" I go to use to use the ATM I am subcharged after a certain limit and keep withdrawing in bits so they could have ATM service Charge.

I then proceed to the counter, only to be told I cannot withdraw more than 50k in the whole of that week. I say it is urgent. I need to buy shoes, clothes, and transport myself home, I'll need to stop by to get something to eat. Along the road I will buy pure water and buns...
The banker tells me If I must, then I have to show my ID, my signature, my this, my that and please wait, others were before you...

Then it reaches my turn after waiting for like 2 hours in a banking hall, for someone that wants to travel and needs to buyvsgoes and clothes o! The banker now tells me that I will be charged 10% of that money I am about to withdraw. Your nyash! You know how I take get am?

Now that they have increased it to 500k weekly, is it for the politicians? Abi na everything weh be political parties?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by onatisi(m): 6:41am On Dec 22, 2022
it was a good policy but certainly certainly at the wrong time, the timing was very wrong. if they ad gone ahead, only God knows what might have happened, and trust unscrupulous politicians, they can use it to cause unrest in the country.
Nigeria is basically a cash-based economy, if you are going to change that you must have gotten the people very viable and working alternatives to the extent that you won't even need to tell them to shift to cashless before they do so themselves.
USING BANK TRANSACTIONS AS THE BASIS OR BASIC CASHLESS TRANSFER IS WRONG, THE POLICY WON'T PENETRATE THE RURAL AREA, THE BEST WAY TO MAKE NIGERIANS CHANGE TO CASHLESS IS TO USE THE TELECOS AND MOBILE MONEY, WHERE EVERYONE KNOWS THEY DO NEED A BANK TO SAVE OR TRANSACT ALL THEY NEED IS A PHONE AND SIM CARD. NO NEED FOR EVEN INTERNET. LOOK AT GHANA, PAY FOR EVERYTHING WITH MOMO , FROM TAXI TO FOOD AT THE SMALLEST FOOD JOINT, EVERYONE HAS A MOMO ACCOUNT ON THEIR PHONE ,MANY EVEN PREFER IT BECAUSE IT ALLOWS THEM TO WATCH THEIR SPENDING

beautyhd:
The pressure was too much on him and I believe his life was seriously threatened that made him give in.

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by victorVIC1(m): 6:41am On Dec 22, 2022
Fair enough. I had to incur some emergency expenses on my way to Oyo recently. My phone was down and it was impossible to access my mobile app. I could only imagine how frustrating it would be if they had implemented the 20K daily limit at the time

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Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Mrpojj(m): 6:45am On Dec 22, 2022
Elemosho478:
‘N500k for individuals’ — CBN increases weekly cash withdrawal limit after public outburst



https://www.thecable.ng/breaking-cbn-increases-weekly-cash-withdrawal-limit-for-individuals-to-n500k/amp
How do we share it for individual daily limit
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Oju4190: 6:51am On Dec 22, 2022
now the terrorism charge against the cbn governor will b drop
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by baretalk: 6:52am On Dec 22, 2022
[quote author=Emoc post=119339781][/quote]
Thunder fire Ohaneze, ipob, ESN terrorists, and all igbos aka Ipobians, aka cannibals aka pigs. Igboland will be destroyed by the hands of Ipob pigs.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Wizbellar(m): 6:53am On Dec 22, 2022
Please guys what about Bank transfers and apps, can I exceeed the amount via Transfer?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Jolite(m): 6:59am On Dec 22, 2022
The country's most criminal CBN governor in history

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by tolue42(m): 7:01am On Dec 22, 2022
CheapHomes1:


You haven't answered my questions.

Are you clearly telling us that APC is only known for anti people policies? What exactly should Tinubu tell nigerians about voting for APC?

In your last sentence, is your grammar correct? What has that got to do with the questions I asked?

Government do make mistakes sometimes in policy making, it happens across the world. Can't you read that this government already increase the withdrawal limits??

So what exactly are you looking for again?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by CheapHomes1: 7:13am On Dec 22, 2022
tolue42:


Government do make mistakes sometimes in policy making, it happens across the world. Can't you read that this government already increase the withdrawal limits??

So what exactly are you looking for again?

thats not what i asked you.

Are you clearly telling us that APC is only known for anti people policies? What exactly should Tinubu tell nigerians about voting for APC?

In your last sentence, is your grammar correct? What has that got to do with the questions I asked?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Teymanhenry(f): 7:22am On Dec 22, 2022
Life makes us selfish at times. I own a cooperative who does majorly cash thrift contributions. I was scared when I first heard this but thank God they have eased it a bit. Man for no see food chop next year o

3 Likes 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by tolue42(m): 7:23am On Dec 22, 2022
CheapHomes1:


thats not what i asked you.

Are you clearly telling us that APC is only known for anti people policies? What exactly should Tinubu tell nigerians about voting for APC?

In your last sentence, is your grammar correct? What has that got to do with the questions I asked?

Don't you understand a simple sentence ?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Donpenny(m): 7:23am On Dec 22, 2022
2 millions monthly for individual and 20 millions monthly for organisations respectively on cash withdrawals. With these; currency hoaders and kidnappers kingpin can now stay in business. This country has no hope for the common man

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by MrBONE2(m): 7:35am On Dec 22, 2022
Theknowledge:
Tinubu shouldn't be allowed near our Treasury.

You see the way the old man take hand bribe to that aboki for that viral video- fear Tinubu with our money
grin

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by MrBONE2(m): 7:37am On Dec 22, 2022
HydraFeeds:
Win Win for both parties
grin

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by misan1977: 7:43am On Dec 22, 2022
Politicians don win

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