₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,326,634 members, 8,427,393 topics. Date: Monday, 15 June 2026 at 08:18 PM

Toggle theme

CBN Cash Withdrawal Limit Begins Today - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsCBN Cash Withdrawal Limit Begins Today (28118 Views)

1 2 3 4 Reply (Go Down)

CBN Cash Withdrawal Limit Begins Today by Anambra1stS0n(op): 11:55am On Jan 09, 2023
The Central Bank of Nigeria’s policy on restriction on daily cash withdrawal takes off across the country today, Monday, January 9.

The PUNCH reports that in this arrangement, the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations is N500,000 and N5 million, respectively. Individuals or organisations that have a compelling need to withdraw above the approved limits to transact legitimate businesses will have to pay a processing fee of three per cent and five per cent respectively.

The financial institutions are also expected to obtain the following information from the customer, at the minimum, and upload same on the CBN portal created for the purpose: Valid means of identification of the payee (National ID, International Passport, or Driver’s License); Bank Verification Number of the payee; Tax Identification Number of both the payee and the payer; Approval in writing by the Managing Director/Chief Executive Officer of the financial institution authorising the withdrawal.

The PUNCH had reported that the CBN ordered Deposit Money Banks not to pay customers making over-the-counter withdrawals of new naira notes again.
Instead, the apex bank directed the banks to load their Automated Teller Machines with only new notes to ensure that the currency circulates across the nation ahead of the January 31, 2023 deadline when the old notes will no longer be legal tender.

It was gathered that the apex bank issued the directive to the banks on Wednesday and ordered that the implementation must begin immediately.
However, as of Friday, the banks had not been able to comply with the directive as they complained of inadequate supply of the new notes, prompting them to load their ATMs with the old notes.
https://lm.?u=https%3A%2F%2Fpunchng.com%2Fcbn-cash-withdrawal-limit-begins-today%2F%3Futm_medium%3DSocial%26utm_source%3DFacebook%23Echobox%3D1673258466-1&h=AT2S7_OOvgnvPeeRrB9AygdPN39IDhwjXfXBq70DaeBp_F7N7x8N3_6tqwsFn-KUmZhgIa_8yq5DgVcoJx8OiqbxWhLoafV7_8YczgusJa2gn4hnemvvKh7focmKZt6byv9L
Nlpfmod

Re: CBN Cash Withdrawal Limit Begins Today by hslbroker2(m): 11:57am On Jan 09, 2023
Ok
Re: CBN Cash Withdrawal Limit Begins Today by SLAP44: 12:14pm On Jan 09, 2023
We dey here grin
Re: CBN Cash Withdrawal Limit Begins Today by Ezeama400: 12:15pm On Jan 09, 2023
The two criminals are in big trouble
Re: CBN Cash Withdrawal Limit Begins Today by chatinent: 12:23pm On Jan 09, 2023
Cashless economy...ok. make we dey see.
Re: CBN Cash Withdrawal Limit Begins Today by Ekejoestar(m): 12:43pm On Jan 09, 2023
ronalmagic10:
Atiku and Obasanjo operated SPV to corruptly enrich themselves.

Andy Uba was a party to this and he's a bosom friend of peter obi in Anambra PDP.

Same Peter obi was economic adviser under Obasanjo.

Same peter obi was VP candidate under atiku

Same peter obi is now being endorsed by Obasanjo obviously to continue their corrupt practices

Dey play. Don't vote wisely ooo. Dey play
So following your logic, Jesus Christ who dinned with prostitutes and tax collector is also a sinner cos of the caliber of people that eat from the same table as Him,you are not even telling us how He was fingered as being a part of/involved in the fraud
Sense is indeed far from urchins.

Lol the joke is on you.

Go and lick microphone

Re: CBN Cash Withdrawal Limit Begins Today by Pwettylinda(f): 12:43pm On Jan 09, 2023
grin
Re: CBN Cash Withdrawal Limit Begins Today by Searchingvictor: 12:43pm On Jan 09, 2023
Ahh.

Infinix hot 5 for sale, 25k
Ibadan
Re: CBN Cash Withdrawal Limit Begins Today by Risingblue008(m): 12:44pm On Jan 09, 2023
This stupid law is going to affect hundreds of business financially oo
Just like we that owns a bet-shop,.
Then how do we pay customers that won above 1/2 million?
So na story we want to dey tell Dem now abi?
Re: CBN Cash Withdrawal Limit Begins Today by Bobbiee: 12:44pm On Jan 09, 2023
Tinupoo is quaking in his boots. How will he now rent crowd again to compete with Peter Obi?
Re: CBN Cash Withdrawal Limit Begins Today by Neduzze5(m): 12:44pm On Jan 09, 2023
Hmm.

It's necessary that the new notes come into play as quickly as possible.

At least, the number of persons rejecting the notes is slowly reducing.
Re: CBN Cash Withdrawal Limit Begins Today by RichardNgene: 12:44pm On Jan 09, 2023
Hello

Re: CBN Cash Withdrawal Limit Begins Today by tiswell(m): 12:45pm On Jan 09, 2023
not effective yet
Re: CBN Cash Withdrawal Limit Begins Today by Afonjacrusder(f): 12:45pm On Jan 09, 2023
ronalmagic10:
Atiku and Obasanjo operated SPV to corruptly enrich themselves.

Andy Uba was a party to this and he's a bosom friend of peter obi in Anambra PDP.

Same Peter obi was economic adviser under Obasanjo.

Same peter obi was VP candidate under atiku

Same peter obi is now being endorsed by Obasanjo obviously to continue their corrupt practices

Dey play. Don't vote wisely ooo. Dey play
shut up! Dumb urchin.
Re: CBN Cash Withdrawal Limit Begins Today by wezzymoney: 12:45pm On Jan 09, 2023
Money that already been printed in favor of Apc already

Dey play
Re: CBN Cash Withdrawal Limit Begins Today by OgaTheTop2: 12:45pm On Jan 09, 2023
Any measures that would discourage vote buying and money hoarding is welcome. Haters can hang undecided
Re: CBN Cash Withdrawal Limit Begins Today by atobs4real(m): 12:45pm On Jan 09, 2023
Good one if only the connected ones obbey
Re: CBN Cash Withdrawal Limit Begins Today by NairaLux(f): 12:46pm On Jan 09, 2023
Ok o
Re: CBN Cash Withdrawal Limit Begins Today by jetwonder(m): 12:46pm On Jan 09, 2023
grin make I go withdraw all my dough
Re: CBN Cash Withdrawal Limit Begins Today by paskal16: 12:46pm On Jan 09, 2023
ronalmagic10:
Atiku and Obasanjo operated SPV to corruptly enrich themselves.

Andy Uba was a party to this and he's a bosom friend of peter obi in Anambra PDP.

Same Peter obi was economic adviser under Obasanjo.

Same peter obi was VP candidate under atiku

Same peter obi is now being endorsed by Obasanjo obviously to continue their corrupt practices

Dey play. Don't vote wisely ooo. Dey play

Re: CBN Cash Withdrawal Limit Begins Today by merits(m): 12:47pm On Jan 09, 2023
post=119862626:
https://lm.?u=https%3A%2F%2Fpunchng.com%2Fcbn-cash-withdrawal-limit-begins-today%2F%3Futm_medium%3DSocial%26utm_source%3DFacebook%23Echobox%3D1673258466-1&h=AT2S7_OOvgnvPeeRrB9AygdPN39IDhwjXfXBq70DaeBp_F7N7x8N3_6tqwsFn-KUmZhgIa_8yq5DgVcoJx8OiqbxWhLoafV7_8YczgusJa2gn4hnemvvKh7focmKZt6byv9L
Nlpfmod
Nonsense
Re: CBN Cash Withdrawal Limit Begins Today by oka4ugoo: 12:47pm On Jan 09, 2023
S
Re: CBN Cash Withdrawal Limit Begins Today by Mamaafrik1(m): 12:47pm On Jan 09, 2023
The cabal will weep when obi enters.
Buhari no send Tinubu....,God go destabilise them any heinous crime to continue with their devilish plans
Re: CBN Cash Withdrawal Limit Begins Today by victor4ekele(m): 12:48pm On Jan 09, 2023
Good timings
Re: CBN Cash Withdrawal Limit Begins Today by JoeNL22(m):
Nigeria must change.
This enigma below is ready to help.

Re: CBN Cash Withdrawal Limit Begins Today by Sammy07: 12:49pm On Jan 09, 2023
cheesy


Make them dey deceive each other.

If dangote, OTedola, Uba and wealthy people in Nigeria needs 50m cash, they know how to get it, talk less of politicians
Re: CBN Cash Withdrawal Limit Begins Today by JoeNL22(m): 12:49pm On Jan 09, 2023
Nigeria must work again
Re: CBN Cash Withdrawal Limit Begins Today by egorov(m): 12:50pm On Jan 09, 2023
Risingblue008:
This stupid law is going to affect hundreds of business financially oo
Just like we that owns a bet-shop,.
Then how do we pay customers that won above 1/2 million?
So na story we want to dey tell Dem now abi?
Do you pay cash? Why not withdraw the money into your account and transfer to the winner.
Re: CBN Cash Withdrawal Limit Begins Today by Upworkwriter007(f): 12:51pm On Jan 09, 2023
OgaTheTop2:
Any measures that would discourage vote buying and money hoarding is welcome. Haters can hang undecided
Since it's 500k/week for an account, and not per BVN. I own five accounts, that's 2.5m for me. BTW, you think vote buyers won't still access cash?
1 2 3 4 Reply

Naira Redesign: Banks’ Cash Withdrawal Limit Is Illegal – Supreme CourtGovernors Back CBN’s Cash Withdrawal Limit – MasariHouse Of Reps Orders CBN To Suspend New Cash Withdrawal Limit234

Lere Olayinka Is Guilty Of Forgery:here's The Original Denial Letter By Zenith2023 Presidency: Pantami's Campaign Posters Flood Eagle Square (Pic+Video)Lucky Ajie (idu) Assassinated In Okposi (photos)