A cross section of Nigerians have continued to react to Central Bank Of Nigeria`s upward review of its cash withdrawal limit policy.
The CBN on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward tweak on the directive as Individuals can now withdraw N500, 000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals.
Speaking to Solutions FM`s Correspondent, some of the residents said the CBN needs to jack up the withdrawal limit more as the review is not convincing.
According to the Apex Bank, the adjustment was based on feedback received from stakeholders after its initial announcement on December 6, 2022 adding that the withdrawal directive becomes effective from January 9, 2023.
WRT/DO/GA DO
