Emefiele Bows To Politicians Pressure, Increases Weekly Cash Withdrawal Limit For Individuals, Corporate Organizations

The Central Bank of Nigeria (CBN) led by Godwin Emefiele bowed to Nigerians politician’s pressure, increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.

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

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

More to follow…