Economic experts have said that the Central of Nigeria, CBN, revised policy on cash withdrawals is a heavy blow to looters of government funds, kidnappers and fraudsters.
A breakdown of CBN’s revised guidelines on the practical implementation of the naira redesign policy stated that starting from 9th January 2022, Automated Teller Machines, ATM/ Point of Sales, and POS withdrawals would be limited to N20,000 Per Day.
The notification also disclosed that Automated Teller Machines, ATM, will dispense N200 and downward denominations, and defaulters of maximum deposit limit will have to pay 5 per cent and 10 per cent, respectively, as charges.
