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Nairaland Forum / Nairaland / General / Business / CBN Drops ATM Withdrawal Limit To N20k/Day (80554 Views)
CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly / CBN Slashes Banks’ ATM Withdrawal Fee From N65 To N35 / CBN Drops Interest Rates By 50bps To 13.50% (2) (3) (4)
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Re: CBN Drops ATM Withdrawal Limit To N20k/Day by yemi1504: 6:21pm On Dec 06, 2022 |
yemmit90: Exactly! |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by faceland: 6:22pm On Dec 06, 2022 |
Too much limitations in this country. I might have to open account in Niger Republic or Ghana. I can't even pay for a $5 subscription with my GTB Account. It took me one month to get ATM card from Zenith (because they want to frustrate us to not use our card). As if life is not hard enough, they are now controlling our sweat 2 Likes 1 Share |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Watcharena: 6:23pm On Dec 06, 2022 |
Aurelius1:eventually they will have to stop , because the money will stop coming , they can't kill every body , they will need something to feed on and purchase more sophisticated weapons, 2 Likes |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Spandau: 6:23pm On Dec 06, 2022 |
seunmsg: We don't need your opinion. Keep shut. Kadoso Mutairu aka seunmsg 2 Likes 2 Shares |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by faceland: 6:24pm On Dec 06, 2022 |
Akinsete19: Or open 10 accounts in 10 different banks. 3 Likes 1 Share |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Watcharena: 6:25pm On Dec 06, 2022 |
faceland:you can pay up to $20 with your gtbank naira master card , so I don't know the type of card you are using |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by baralatie(m): 6:25pm On Dec 06, 2022 |
Rubbiish:And pos might prove more useful in the rural areas in the end Well let us see how it plays out in the long run |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by backtovillage: 6:26pm On Dec 06, 2022 |
TheKingIsHere:You will be okay by 2023 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Watcharena: 6:26pm On Dec 06, 2022 |
Capernum:you don't need to withdraw to buy bag of rice , you can always make transfer 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by daneni1(m): 6:27pm On Dec 06, 2022 |
SmartyPants: I believe we will grow from it. |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by yemi1504: 6:28pm On Dec 06, 2022 |
Aboguede: If you own one, time to padi with the cashiers and bank officials for smooth operation when the law goes into effect. Time to also know how to pay bribes to them over the counter also to get the treasured 1000 naira notes. |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by yemi1504: 6:31pm On Dec 06, 2022 |
Omoapena: That is if the withdrawal form gives them access to the treasured 1000 naira notes over the counter. Because if they withdraw 200 naira notes, the cash with them will be bulkier which is an attraction for armed robbers! |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by cyndylove64(f): 6:31pm On Dec 06, 2022 |
yemi1504:lmao .... Girls go look down on guy when him wallet full of 200naira notes lol.... |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Fearyourcreator: 6:31pm On Dec 06, 2022 |
iwaeda:Nothing is ever good for some of you... Nothing ... Well Jesus was crucified at last |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Emmanuel909090: 6:33pm On Dec 06, 2022 |
Nice |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by faceland: 6:35pm On Dec 06, 2022 |
Watcharena: Abeg you are retarded. Kidnappers that kill, rape and sell women to slavery would back off? They would even ask to be paid in dollars. |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Watcharena: 6:35pm On Dec 06, 2022 |
CEwog91:this has nothing to do with value of naira in terms of complimention , you said the policy is dead on arrival , I can tell this for free no government policy is better implemented than banking policies , you are only a customer banks will not break cbn policy because of any customer , know this and know peace.I'm really happy with this policy , you don't need to carry cash about 2 Likes |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Watcharena: 6:37pm On Dec 06, 2022 |
faceland:everything need financing when the money is not forth coming how will they keep up with it, even the dollar with the rate we are going , new policies everyday, value of naira dropping every day , time will come you will not be able to deposit or withdraw dollars in banks, the government may do this to save the naira and eliminate the black market rate 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by yemi1504: 6:37pm On Dec 06, 2022 |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Nobody: 6:39pm On Dec 06, 2022 |
linearity: You just gave me a smart idea. I have a date in a few weeks. |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Relixy2k: 6:39pm On Dec 06, 2022 |
So Oshodi, Mushin etc market is like LA where you can buy pepper, rice, clothes etc with cash only. Nigeria is still grossly a cash economy where we buy most things with cash only. Don't compare incomparables. RomanGreen: 2 Likes 2 Shares |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Nobody: 6:39pm On Dec 06, 2022 |
I don’t understand. Does it mean that if go to the mall to buy something you can’t pay with POS for articles above 20000 naira |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Flier: 6:41pm On Dec 06, 2022 |
This policy does not make sense,how do you pay for good and services if you can’t spend more than 20,000 on POS,this silly policy won’t see the light of The day |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Flier: 6:42pm On Dec 06, 2022 |
MyFlair:It does not make sense,the policy will never come into effect otherwise Nigeria will shut down 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by KennethEnyi(m): 6:42pm On Dec 06, 2022 |
yemmit90: Then the government will release a wave of planned armed robbery attacks (especially in low income neighborhoods) to put fear in your heart and force you to submit your money to the bank again… 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Flier: 6:43pm On Dec 06, 2022 |
Satazaa:The policy can never come into effect,it make no sense 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by tdayoojo: 6:44pm On Dec 06, 2022 |
SmartyPants: Bad news for your slay queens. You can not do more than 100k cash transaction per day. Internet banking is still open for you sha. I only hope network will not mess you up. There is a kind of mixed feelings here though. Just pulling your legs sha. |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by sevo(m): 6:44pm On Dec 06, 2022 |
I still see a loophole in this policy...people are going to make large withdrawals as from the 15th of December till 8th of January next year...large cache of cash would be withdrawn from banks in that 3 weeks window 1 Like 1 Share |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by justmi1: 6:48pm On Dec 06, 2022 |
SmartyPants:It won't be only you, the idea is that, if less naira is in circulation prices would drop, more like devaluation. So if you are to spend 5k at the restaurant for example, with this new policy you would spend 500 to 1k for same value but to get that 1k would not be as easy. 1 Like |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Akinwalecollins: 6:48pm On Dec 06, 2022 |
Payback to APC for not allowing EmefCBN to contess APC primary |
Re: CBN Drops ATM Withdrawal Limit To N20k/Day by faceland: 6:48pm On Dec 06, 2022 |
Watcharena: That's what I thought. $20 a month (even though they didn't tell before implementing that limit). Now you can't pay above $5 a day (they didn't tell us again before implementing this policy). CBN don't want to give them dollars. Can you even find TV of 20k naira? What if those that didn't go to school? Now we must use transfer so they tax us? I swear I need a foreign African account. That is 3rd December and my first transaction since November because Zenith wouldn't give me ATM.
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Re: CBN Drops ATM Withdrawal Limit To N20k/Day by AutoRedux: 6:50pm On Dec 06, 2022 |
Googledotcom: The 20k is per bank. Not 20k for all your bank accounts. |
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