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| Buhari, CBN governor and new Naira Note |
Today's Monday, 26 December this statement was issued.
In a statement send by Union Bank to it's Customer's said:
"Dear Customer,
CBN updated New Naira Note withdrawal limit, will take effect nationwide from January 9, 2023.
Further to the Naira notes redesign launch and in line with the cashless policy, the Central Bank has announced updated cash withdrawal limits which will take effect nationwide from January 9, 2023."
According to them, This means, any person can only withdraw N500,000 a week. For those who need to withdraw more than that, they will be charged 3% processing fee for all the money they withdraw.
Other part of the statement added that, "Cheques - Third-party cheques above N100,000 must be paid into an account.
ATM - Your maximum cash withdrawal limit per week via the ATM is N100,000, subject to a maximum daily cash withdrawal of N20,000. Only N200 and lower denominations will be loaded in our ATMs, in line with the new regulation.
POS - Your maximum daily cash withdrawal on a POS is N20,000.
If you must withdraw above N500,000 weekly, you will be required to provide a valid ID (Driver’s License, Voter’s card, or international passport). The cash withdrawal will be subject to a 3% processing fee and other information requirements."