Country Restricts ATM Withdrawals To $45

  • The Central Bank of Nigeria informed banks this week that it will place a daily limit on cash withdrawals of 20,000 Naira, which equates to $44.97. The current limit is 150,000 naira.
  • The Central Bank also forbids cashing checks above 50,000 naira over the counter.
  • The Central Bank has been trying to wean Nigerians off of cash through a policy it calls Cash-less Nigeria.
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