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CBN pegs daily maximum withdrawal to N20,000 over-the-counter

The Central Bank of Nigeria has approved the Over-the-counter withdrawal of new naira notes by banks to maximum daily payout limit of N20,000.

The apex bank in a recent notification stated thus:

 “While reiterating our commitment to Nigerians to ensure the effective distribution of the newly introduced Naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.

“In line with this resolve, the Governor, Mr Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.

The Central Bank also urged Nigerians to embrace and adopt other payment channels for their transactions, citing that the Naira is Nigeria’s legal tender and symbol of national pride which should be respected and handled with care.



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