₦airaland Forum

CBN NEW WITHDRAWAL POLICY.

An Explanation of the Key points in current CBN’s withdrawal policy:

1: Over the counter withdrawal is N100,000 for individuals & N500,000 for organizations including churches and Pastors per week.

2: You can’t issue a Cheque of more than N50,000 to anyone to cash on counter again, so, tax evaders, it is over

3: Existing #10m for clearing is retained. You can’t issue a Cheque of N20m for clearing at all.

4: Cash withdrawal at ATM is N20k daily & N100k per week.

5: POS withdrawal is N20k but POS can TRANSFER on your behalf, no restriction at all. So loss of job for POS guys is false.

6: For our Big men, Pastors & Churches, you are allowed to withdraw once in a month for individual, N5m & for organizations, N10m for legitimate transactions. You must write a letter & approved by the bank. You will pay 5% 10% processing fee for person & Organisation respectively.

7: You can download eNaira also to help you. Checkpoints guys are not smiling with this policy.

8: You can DEPOSIT any amount in cash into your account so far the banks are not in Abuja and Lagos.
For Abuja people, go to Karu or Suleja to deposit any amount you like.
Market women, no cause for alarm. They will understand how to use mobile apps soon.

Nigerians should prepare for this big shift to a Cashless Policy.

No more hoarding cash in soak aways by politicians.
In fact it'll be difficult to buy Votes in this 2023 elections.

Hmm

nokia1000:
CBN NEW WITHDRAWAL POLICY.

An Explanation of the Key points in current CBN’s withdrawal policy:

1: Over the counter withdrawal is N100,000 for individuals & N500,000 for organizations including churches and Pastors per week.

2: You can’t issue a Cheque of more than N50,000 to anyone to cash on counter again, so, tax evaders, it is over

3: Existing #10m for clearing is retained. You can’t issue a Cheque of N20m for clearing at all.

4: Cash withdrawal at ATM is N20k daily & N100k per week.

5: POS withdrawal is N20k but POS can TRANSFER on your behalf, no restriction at all. So loss of job for POS guys is false.

6: For our Big men, Pastors & Churches, you are allowed to withdraw once in a month for individual, N5m & for organizations, N10m for legitimate transactions. You must write a letter & approved by the bank. You will pay 5% 10% processing fee for person & Organisation respectively.

7: You can download eNaira also to help you. Checkpoints guys are not smiling with this policy.

8: You can DEPOSIT any amount in cash into your account so far the banks are not in Abuja and Lagos.
For Abuja people, go to Karu or Suleja to deposit any amount you like.
Market women, no cause for alarm. They will understand how to use mobile apps soon.

Nigerians should prepare for this big shift to a Cashless Policy.

No more hoarding cash in soak aways by politicians.
In fact it'll be difficult to buy Votes in this 2023 elections.

And ATM can not give out notes over 200 naira denomination


https://www.youtube.com/watch?v=RfaIEnw15w0