Sgt4succsess SMACIN GRACEFULL TEAM CBN Raises Weekly Withdrawal Limits To N500,000 For Individuals, N5m For Firms Customers get new naira notes over the counters on December 15, 2022 ADVERTISEMENT The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. ADVERTISEMENT 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. ADVERTISEMENT “The maximum weekly limit for cash withdrawal across all channels by individuals and corporate organisations shall be N500,000.00 and N5,000,000.00 respectively,” the apex bank said in a circular issued on Wednesday signed by its Director of Banking Supervisio

Sgt4succsess SMACIN GRACEFULL TEAM CBN To Redesign N200, N500 And N1,000 Notes The Central Bank of Nigeria (CBN) on Wednesday said it will redesign the N200, N500, and N1,000 notes. ADVERTISEMENT CBN Governor, Godwin Emefiele, disclosed this during a special press briefing in Abuja. The new design and issues will be effective from December 15, 2022. ADVERTISEMENT The action was taken in order to take control of the currency in circulation, according to the CBN boss. ADVERTISEMENT The apex bank, Emefiele stated, has secured the approval of President Muhammadu Buhari to roll out new notes to replace the existing currency in circulation. ADVERTISEMENT “In line with the provisions of Sections 2(b), Section 18(a) and Section 19, Seb section(a) and (b) (2007), the management of the CBN has sought and obtained the approval of President Muhammad