Why CBN is limiting cash withdrawals

The Central Bank of Nigeria recently announced limits on cash withdrawals for both individuals and corporate organisations.

The new policy introduced in early December 2022 by the apex bank limited cash withdrawals to N100,000 for individuals and N500,000 for organisations per week. It also directed banks to load only N200 and lower denominations into the Automated Teller Machines.

In this video, we explain some of the reasons the central bank came up with this policy.

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