Central Bank Increases Weekly Cash Withdrawal Limit For Individuals And Corporates

The Central Bank of Nigeria (CBN) has announced the increase of weekly cash withdrawal limit for individuals and corporates to N500,000 and N5million respectively.

The CBN made this known this in a letter addressed to banks on Wednesday.

The apex bank disclosed that it made the decision based on feedback received from stakeholders.

The apex bank had weeks ago pegged weekly cash withdrawal limit at N100,000 for individuals, a development that has caused furore in the polity.