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Banks propose N10, 000 across the counter withdrawal limit

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CBN stirs controversy with reversal of SME funding policy

If the Bankers Committee has its way, bank customers will not be able to withdraw more than N10, 000 from across the counter, next time they step into the banking hall.

It was gathered that the committee made the suggestion to limit the over the counter cash withdrawal by bank customers to N10,000 in a proposal tabled before the Central Bank of Nigeria (CBN).

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The proposal was sent last week to the Sub-committee on Payments Systems and Infrastructure of the Bankers Committee to the CBN.

It was also presented at the committee’s meeting but it is not clear whether it was considered.

It is still unclear when, or if the CBN is has considered the request. But the committee says it expects the CBN to “give feedback on the request”.

 

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