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CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly (39412 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 tarantino1: 9:59pm On Dec 21, 2022
Happy for this. An extremely useless policy without head or tail and mumu Nigerians were supporting it just to appear smart not knowing that they're the real dullardinos

3 Likes 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by edungene7: 10:00pm On Dec 21, 2022
CheapHomes1:


So what? How can the CBN make policy just because of just one man? Isn't that stupid?
hahaha after the election it would be reversed at the moment is operation stop Tinubu by all means possible from buying the Nigerian presidency
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Tinubumyman: 10:08pm On Dec 21, 2022
Helpfromabove1:
He as give-in to pressure

What Nigerian politicians can not do to win elections does not exist
che aye emefiele Fe baje ni
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by BennyDGreat: 10:10pm On Dec 21, 2022
Itisallright:
They should have place it at 200k per week for individual and improve the network for online transactions, cashless can't work with this. Seems that they're confused...

They can't make policies and be looking for ways to improve online transactions....

Online transaction systems must first improve by far before you can make policies like that...

500k is fine for now...let them sort out the annoying network issues first

2 Likes 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by ShaqFu: 10:13pm On Dec 21, 2022
Chai. Them don arm wrestle Emefiele. grin
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Faposky95: 10:14pm On Dec 21, 2022
... doesn't it show that we're lab rats in the general.....
All they needed..... subversion....
The way we're controlled....
Some agree, argue blindly....others fiercely against......at the end....the complain, then on to their deviant motives.

In the 21st century, I would have expected all stakeholders run independent polls... giving Govt an idea on inclusivity.....
Making the populace see constructivism .....
....after all's said and done....
No round of applause
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by grandstar(m): 10:15pm On Dec 21, 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

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.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Nobody: 10:15pm On Dec 21, 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
The purpose had been defeated. Things can never worked well in this country.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by joyandfaith: 10:16pm On Dec 21, 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

Political elites win again. Masses loose. If elites are saying no to certain government policies masses shouldn't support them.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Nobody: 10:17pm On Dec 21, 2022
HitRun:
When decisions are based on empirical analysis, it can be defended against all and any pressure.

The CBN failed to show any economic analysis upon which their decision was based (probably because non was carried out, and it is a shame because it is a very simple thing to do). So when the hawks came, CBN had no defense and had to backtrack.

You may be right, my dear.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Lexzov1: 10:22pm On Dec 21, 2022
How much is now the daily limit
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by TOPCRUISE(m): 10:23pm On Dec 21, 2022
All I know is that every kidnapper and bandits will be among those that criticized the CBN Governor. And they will see this second move as a selcome development. Emefiele must have feared for his life for him to have decided to review his earlier arrangement
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by baretalk: 10:25pm On Dec 21, 2022
We must do everything to stop kidnappers and bandits from getting access to illicit funds.
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by wolebest: 10:30pm On Dec 21, 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.



Who are the masses that will accept the previous policy?

You close your eyes to see that elections comes once in a while. What happens to the largely informal sector that is not captured by banking operations?

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Investortg: 10:31pm On Dec 21, 2022
Helpfromabove1:
He as give-in to pressure

What Nigerian politicians can not do to win elections does not exist
OGA men run homes that 100k weekly limit can't sustain...the stretch is damn necessary! CBN knows other measures to tackle those corrupt politicians if they have the balls!

3 Likes

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Rhozabeth(m): 10:36pm On Dec 21, 2022
He finally caved in!
This country is cursed and can never grow beyond what it is today!
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Tunagee(m): 10:41pm On Dec 21, 2022
zuby4real10:
So how much come be daily maximum widrawals for individuals?

Hehehehe! You need glasses ba!!!!
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by michlins(m): 10:45pm On Dec 21, 2022
ShinnBet:


Dense idiot

For your small okoro brain this policy was instituted by Emefile to curb vote buying abi.

You forget that life exists after elections and that if this policy is allowed to be in place the larger economy and already impoverished citizenry will only get worse.

But I don't expect a petite trader mind to reason between buying and selling chinko fake products to truly understand the gravity if this stupid policy
I talked about corruption and you went on rampage about vote buying. I don't know what your conscience is doing you but I am happy that at least you know what is right but choose to do wrong
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by sevo(m): 10:51pm On Dec 21, 2022
HitRun:
When decisions are based on empirical analysis, it can be defended against all and any pressure.

The CBN failed to show any economic analysis upon which their decision was based (probably because non was carried out, and it is a shame because it is a very simple thing to do). So when the hawks came, CBN had no defense and had to backtrack.

Bros, oil dey your head...the rush to implement the policy without due consultations with the stakeholders involved made the policy a failed project from the get go...

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Emoc: 10:54pm On Dec 21, 2022
baretalk:
We must do everything to stop kidnappers and bandits from getting access to illicit funds.

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!

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by staga: 10:58pm On Dec 21, 2022
Itisallright:
They should have place it at 200k per week for individual and improve the network for online transactions, cashless can't work with this. Seems that they're confused...

Today my ATM card was declined at several PoS terminals and nearly seized by an ATM. Card wey money full inside. Something I never experienced in any other country. In Senegal, I used to withdraw 100,000 CFAs (which was N80,000 at the time) at once. Not this useless N10,000 for another bank's ATM.

Is it on such a platform that cashless will be implemented?

2 Likes 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by CheapHomes1: 11:08pm On Dec 21, 2022
tolue42:


I will vote for APC, this policy can never be against APC candidate, if you know, you know...

But my own is, after election, will it affect the citizens? YES!

Which set of people will feel the pressure most? Traders.

Who are the traders
Your guess is good as mine.

So don't wish Tinubu bad because of election. It'll still come back to bite you.

It's better we all condemn the policy now..don't be an hypocrite!

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?
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by godofuck231: 11:13pm On Dec 21, 2022
Congratulations Nigerians, you are now free to masturbate and boil water
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by StreetFight: 11:23pm On Dec 21, 2022
When Tinubu coughs, everyone shivers.

Jagaban Borgu
City Boy Extraordinaire
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by StreetFight: 11:24pm On Dec 21, 2022
Helpfromabove1:
He as give-in to pressure

What Nigerian politicians can not do to win elections does not exist

What Tinubu cannot do you mean.

Jagaban Borgu
City Boy Extraordinaire
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by StreetFight: 11:24pm On Dec 21, 2022
HateBigots:
The politicians finally won... Shithole country

And you are the shit in the shithole

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by StreetFight: 11:26pm On Dec 21, 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

So if you give alms to an Almajari on the road, it's a bribe so that he father will give you his daughter, abi?

1 Like

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Ezeego1(m): 11:28pm On Dec 21, 2022
zuby4real10:
So how much come be daily maximum widrawals for individuals?


100k

1 Like 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Ezeego1(m): 11:30pm On Dec 21, 2022
Lexzov1:
How much is now the daily limit


100k

1 Like 1 Share

Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by castrokins(m): 12:14am On Dec 22, 2022
Godwin Is Lilly-livered. grin
Re: CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly by Yankee101: 12:35am On Dec 22, 2022
Dem wan kill Emefiele
He had to run out of the country

1 Like 1 Share

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