CBN Drops ATM Withdrawal Limit To N20k/Day - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / CBN Drops ATM Withdrawal Limit To N20k/Day (84473 Views)
CBN Increases Cash Withdrawal Limit To ₦500,000 Weekly / CBN Slashes Banks’ ATM Withdrawal Fee From N65 To N35 / CBN Drops Interest Rates By 50bps To 13.50% (2) (3) (4)
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| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Excelxpress: 4:24pm On Dec 06, 2022 |
20k per day 2 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by jibrilELsudan: 4:24pm On Dec 06, 2022 |
HOW ASHAWOS GO CUM DO NOW 17 Likes 2 Shares
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| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Ayodeoba: 4:25pm On Dec 06, 2022 |
Pos business about to crash. Omo January go turf o 21 Likes 2 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by obi58: 4:25pm On Dec 06, 2022 |
This is serious o. I'm trying to understand the objective of this new directive which essentially is seeking to restrict the amount of cash in circulation. The policy has some lofty goals but might be a little difficult to implement as the impact will be hard on the uneducated and elderly who may not know how to do transfers. They will be easy prey for youths who may choose to defraud them. A key part of this policy I like is that withdrawals above a certain threshold at the bank will include the use of ID card and BVN so that CBN can monitor how much each person is withdrawing per day not just in one bank but across banks and If necessary they can go ahead to do enhanced due diligence on suspicious withdrawal activity. I hope this will help to reduce inflation and check corruption. P.s. while this may help check demand pull inflation by controlling cash liquidity, the jury is still out on cost push inflation as components like fuel pump price, subsidy removal, increase in phed tariff etc still remain very much in play 14 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Harshweather(m): 4:25pm On Dec 06, 2022 |
So so implementation of invalid law that it's not helping out economy. After buying paint for 216 billion naria just to paint our naria note. 10 Likes 3 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Benjaniblinks(m): 4:25pm On Dec 06, 2022 |
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| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by LagBlogger(m): 4:25pm On Dec 06, 2022 |
Red eye 1 Like |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by lrman(m): 4:25pm On Dec 06, 2022 |
So what if you go to a shop to buy a product with price of more than 20k..?? That means you cannot pay via pos unless you use a bank transfer ??smh.. 14 Likes 3 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by cutedharmee: 4:25pm On Dec 06, 2022 |
Nah una sabi 1 Like |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Falseprofet2: 4:25pm On Dec 06, 2022 |
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| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by AquaPetals(f): 4:25pm On Dec 06, 2022 |
Moh247:This policy would hugely put a dent to the POS business vendors littering across the country... 20k daily withdrawal limit? damn! Any loopholes? 26 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by slivertongue: 4:25pm On Dec 06, 2022 |
CBN is out to strangulate the people band the economy 7 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by temmyyem: 4:25pm On Dec 06, 2022 |
RomanGreen: Very few can see the handwriting on the wall, it's not a Nigeria thing, it's global, bank branches are being closed, ATM machines going out of service and decommissioned. The digital prison of the one world system is being built and people are unaware of what is coming. 38 Likes 2 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by dryakson(m): 4:25pm On Dec 06, 2022 |
RomanGreen: |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Nobody: 4:25pm On Dec 06, 2022 |
After people have deposited all their money fa! 22 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by callmemakaveli: 4:26pm On Dec 06, 2022 |
Let's see where this will lead us to. Fingers crossed. 5 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by backtovillage: 4:26pm On Dec 06, 2022 |
Some mumu will still blame Tinubu for Emefiele 's failures 8 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by utenwuson: 4:26pm On Dec 06, 2022 |
We going cashless...... People without money na dem go shout pass |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Coronavirus1: 4:26pm On Dec 06, 2022 |
Bad news |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by OfficialP: 4:26pm On Dec 06, 2022 |
Not bad 2 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by sisisioge: 4:26pm On Dec 06, 2022 |
Are we ready now? Bread seller o....pepper seller o....mechanic o....we are going cashless! 5 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Papertrail11(m): 4:26pm On Dec 06, 2022 |
Lebanon reloaded this was how it started. 2 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by kayuseful: 4:26pm On Dec 06, 2022 |
Chai |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Lanshile(m): 4:26pm On Dec 06, 2022 |
This will affect the returns of pos guys The amount they are generating will drop a little 4 Likes |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Felabrity: 4:26pm On Dec 06, 2022 |
These guys are running màddd 12 Likes 2 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by RomanGreen: 4:26pm On Dec 06, 2022 |
Mrfksb1: Dude shut up, you're in LA where withdrawals above certain thresholds aren't allowed yet you calling nonsense here. Cashless policy is in full swing in advanced LA but you don't want it abi....bad belle 33 Likes 4 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by lrman(m): 4:27pm On Dec 06, 2022 |
utenwuson: Did you read the part where they said even pos transaction is maximum of 20k per day?? How will you pay for product and services which are above 20k via pos ?? Or you will have to be making use of Bank transfer that delays or which some businesses do not even accept ?? 12 Likes 2 Shares |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by gasparpisciotta: 4:27pm On Dec 06, 2022 |
Akwamkpuruamu: Key question 4 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by backtalkG(m): 4:27pm On Dec 06, 2022 |
How will this reduce the price of garri 1 Like
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| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by Elidrisy20: 4:27pm On Dec 06, 2022 |
Nonsense 4 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by babyfaceafrica: 4:27pm On Dec 06, 2022 |
Akwamkpuruamu: They will 6 Likes 1 Share |
| Re: CBN Drops ATM Withdrawal Limit To N20k/Day by diesel86: 4:27pm On Dec 06, 2022 |
This is interesting, this way the new notes won't get hoarded like previous notes. Those that spray money at events, how far ? 8 Likes |
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