CBN Don Tok Say Na Only N100k, N500K cash people and company fit withdraw Everi Week.

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Central Bank of Nigeria (CBN) don announces new policy say people and companies go fit only collect N100, 000 and N500, 000, cash from dia banks and any other financial institution per week.

Dem yarn dis one inside one memo dey dem drop on Tuesday and na Director of Banking Supervision, Haruna .B. Mustafa drop am. 

Mustafa tok say for people dem fit collect cash of N100,000 per week. while companies and organisations fit collect N500,000 per week.

If the Withdrawals pass the limits you go pay processing fees of 5% and 10%.

CBN still yarn say inside the memo, make bank only dey load any note wey big pass N200 inside ATM. And na only 20,000 Naira you go fit to withdraw per day from ATMs and POS shop.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dem come yarn for special case wey be say individuals and corporate organisations go need cash wey reach millions, The only amount wey dem fit to withdraw from bank no go pass N5,000,000.00 and N10,000,000.00 for the individuals and corporate organisations, respectively. But conditions follow this one oooo.

Dem go also need to submit something for CBN portal to fit do this one. 

A. Valid means of identification of the payee (National Identity Card, International Passport, Drivers License.)

B. Bank Verification Number of the payee. 

C. Notarised customer declaration of the purpose of the cash withdrawal. 

D. Senior management approval for the withdrawal by the Managing Director of the drawee, where applicable. e. Approval in writing by the MD/CEO of the bank authorising the withdrawal.

E. Approval in writing by the MD/CEO of the bank authorising the withdrawal.

This one go start on the 9th of January 2023 and CBN come also advise banks dem say, with this new policy dem go need to try dia best to make sure say e go siriri werere, and coma or mago mago no go dey inside. And dem go need to ginger dia customers to use another way apart from withdrawal ( internet banking, mobile banking apps, USSD, cards/POS. eNaira, etc.)take dey run dia transactions 

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