The Central Bank of Nigeria (CBN) has eventually bowed to public uproar regarding the new cash withdrawal limit.
The Punch Newspapers reported that CBN now permits individuals to withdraw up to N500,000 weekly and organisations, N5 million per week.
This new development was communicated to commercial banks in a recent circular signed by Haruna Mustafa, the director of banking supervision department, on Wednesday.
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The apex bank had on December 6 announced a new policy that limited over-the-counter cash withdrawals per week to N100, 000 and N500, 000 for individuals and corporate organisations, respectively.
The National Assembly had appealed to the apex bank to considerably amend the withdrawal limits in response to public outcry on the policy.
Explaining that it made the amendment based on critical assessment received from stakeholders, the CBN proceeded to increase the weekly cash withdrawal limits.
Reaching all banks with the policy amendment, the CBN equally proceeded to issue a stern warning over the circumvention of the policy.
READ MORE: Just In: CBN limits ATM withdrawal to N20k/day, banks to dispense N200 as highest denomination
Bus conductor rejects redesigned Naira note from passenger
Meanwhile, a bus conductor almost left a passenger stranded after he rejected the redesigned Naira note handed to him.
The passenger tried appealing to the bus conductor that she had no other cash on him, but he advised her to board another vehicle instead.
In a viral video shared by Instablog9ja on Twitter, the Lagos bus conductor explained that he doesn’t recognise the redesigned Naira notes.
