CBN increases cash withdrawal for individuals, companies to N500k, 5m

The apex financial institution, the Central Bank of Nigeria (CBN) has increased the maximum limit of cash individuals can withdraw weekly to N500,000.

In the same vein, the mother of all Nigerian banks has increased maximum limit of cash corporate organisations can withdraw weekly to N5 million.

This development was confirmed by the apex bank in a letter forwarded to all banks in the country on Wednesday.

The CBN added that the decision was made based on the reactions got from stakeholders.

Details shortly…