New Naira Notes: Anxiety As CBN Insists On January 31 Deadline — Features — The Guardian Nigeria News – Nigeria and World News guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
Some bank customers have decried scarcity of the redesigned N1,000, N500 and N200 notes in Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs).
The Central Bank of Nigeria (CBN) on Friday in Abuja allayed the fears of rural dwellers at accessing the new naira notes before they cease to become legal tender on Jan. 31.
The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million respectively. CBN said this in a letter addressed to banks on Wednesday, signed by Haruna B. Mustafa, Director of Banking Supervision. The apex bank earlier pegged the weekly cash withdrawal limit at N100,000 for individuals and N500,000 for corporate bodies, a development that has caused a public backlash.