Regulatory Alerts2022-12-06 | CCD-06122022Added · Updated
Naira Redesign Policy - Revised Cash Withdrawal Limits
The Central Bank of Nigeria has issued a directive to all deposit money banks and other financial institutions regarding the Naira redesign policy and revised cash withdrawal limits. The maximum weekly cash withdrawal limits for individuals and corporate organizations have been set at ₦100,000 and ₦500,000, respectively, with processing fees for withdrawals above these limits. The policy will come into effect on January 9, 2023, with strict compliance required to avoid sanctions.
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