Business Nigeria: CBN Considers Proposal to Limit Across-the-Counter Withdrawals to N10,000 - PUNCH

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The Central Bank of Nigeria, CBN, is considering adopting a move which'll draw the ire of Nigerians.

The apex bank is reviewing a proposal to reduce the across-the-counter withdrawals at Nigerian banks to N10,000, a Punch report says.

The proposal is being considered by the CBN through the Banking and Payment Systems Department.

Nigerian banks, via the Bankers Committee sent the proposal to the apex bank following a major drop in customers’ deposit.

The total deposits of bank customers with the Deposit Money Banks dropped by 5.6 per cent or N1.03tn from N18.54tn to N17.51tn between April 2015 and April 2016.
 

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