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LequteMan
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Nigeria - The Central Bank of Nigeria (CBN) has announced that the $50,000 per person, per annum limit for use of naira debit cards for transactions overseas will not affect customers spending from their domiciliary accounts, The Nation reports.
The CBN had earlier announced that “the limit on the usage of the naira denominated cards for transactions overseas has beenreduced from $150,000 to $50,000 per person, per annum. In addition, authorised dealers are to ensure that the daily cash withdrawal limit embedded in the cards per person, per day is pegged at $300.
However CBN Director, Trade and Exchange, Olakanmi Gbadamosi in another the new rule won’t affect domiciliary accounts. He alsosaid debit/credit cards used locally are also not affected by the policy.
According to him the clarification became necessary because stakeholders have been giving different interpretations to the earlier directive cutting customer’s debit/credit card spending limit from $150,000 to $50,000.
#Nigeria #CBN #Dollar #Naira
The CBN had earlier announced that “the limit on the usage of the naira denominated cards for transactions overseas has beenreduced from $150,000 to $50,000 per person, per annum. In addition, authorised dealers are to ensure that the daily cash withdrawal limit embedded in the cards per person, per day is pegged at $300.
However CBN Director, Trade and Exchange, Olakanmi Gbadamosi in another the new rule won’t affect domiciliary accounts. He alsosaid debit/credit cards used locally are also not affected by the policy.
According to him the clarification became necessary because stakeholders have been giving different interpretations to the earlier directive cutting customer’s debit/credit card spending limit from $150,000 to $50,000.
#Nigeria #CBN #Dollar #Naira