CBN Limits Over-The-Counter Withdrawals To N100,000

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Nigerians express displeasure with the Central Bank of Nigeria’s (CBN) as they release new law limiting over-the-counter withdrawals to one hundred thousand naira.

We recall that the CBN announced on Tuesday, December 6th, that beginning January 9th, 2023, individuals and organizations will be unable to withdraw cash from banks in excess of a certain amount.


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Individuals will only be able to withdraw N100,000 per week, according to a memo issued to banks and signed by the Director of Banking Supervision, Haruna.B. Mustafa.

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