ATM
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has arrested the officials of the Abuja head office of Sterling Bank over “N258 million” new notes “stashed” in the bank’s vault. In a statement on Tuesday, the commission said the regional and service managers of the bank were arrested on Friday. […]
The Central Bank of Nigeria (CBN) has warned that it will penalise banks that fail to comply with its directive to dispense the newly redesigned N200, N500 and N1,000 through their Automated Teller Machines (ATMs). The warning was issued yesterday by the CBN Director, Currency Operations Department, Ahmed Umar, during a training session […]
The Central Bank of Nigeria (CBN) on Wednesday bowed to pressure from many Nigerians and lawmakers as it announced an upward review of its cash withdrawal limits directive. Individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines […]
Following the absence of Senator Uba Sani, the Chairman of the Committee on Banking and Finance, the Senate has postponed its debate on the new Central Bank of Nigeria (CBN) cash withdrawal policy till 14th December 2022. Senator Olubunmi Adetumbi, a member of the Committee in a Point of Order on Tuesday, explained […]
The Central Bank of Nigeria, CBN, has reduced the maximum over-the-counter (OTC) cash withdrawal per week for individuals to N100,000 and N500,000 for corporate organisations. The apex bank also limited individual Point of Service (POS) to N20,000 per day. This information was contained in a circular by the CBN and addressed to all […]
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