Concerns, Questions Arise as CBN Sacks Another 40 Directors The Central Bank of Nigeria (CBN) has taken further steps in its ongoing restructuring by terminating the employment of 40 staff, primarily from the development finance department (DFD), according to an authoritative report from Daily Trust. Details regarding the affected individuals remain limited due to the…
CBN Orders Banks to Stop Over-the-Counter Withdrawals of New Naira Notes The Central Bank of Nigeria, CBN, has instructed banks not to allow customers to make over-the-counter withdrawals of new naira notes. Instead, the banks have been directed to use Automated Teller Machines to distribute the new notes across the country before the deadline of…
Nigerians Can’t Withdraw More Than N100,000 Again, Says CBN in New Memo New cash withdrawal restrictions have been set by the Central Bank of Nigeria, CBN, saying they go into effect on January 9, 2023. The directive said individuals will only be permitted to withdraw N100,000 per week from ATMs, Point of Sale machines, or…