By NewsBits
Reports reaching us has it that the Central Bank of Nigeria (CBN), has reversed itself and increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5million, respectively.
The CBN said this in a letter, which we learnt was addressed to banks on Wednesday, where the bank said it made the decision based on feedback they received from stakeholders when the earlier policy was introduced.
Recall that the CBN had weeks ago pegged weekly cash withdrawal limit at N100,000 for individuals, a development that has caused furore in the polity.
