HomeAfrica

Nigeria raises cash withdrawal limits after outcry

Nigeria's central bank has significantly increased limits it had imposed on cash withdrawals following a public outcry. Earlier this month it said

Libya invites global oil firms to resume operations
South Africa’s ANC mulls leaving war crimes court
Malawi’s Vice-President Saulos Chilima arrested for corruption

Nigeria’s central bank has significantly increased limits it had imposed on cash withdrawals following a public outcry.

Earlier this month it said customers would only be able to take out the equivalent of $220 (£183) per week. The withdrawal limit has now been increased to more than $1,000.

Cash plays a vital role in Nigeria as most people do not have a bank account. Last week redesigned banknotes were introduced and will replace all those currently in circulation.

The move is aimed at trying to curb inflation and corruption – including vote buying ahead of February’s elections.

BBC Africa

COMMENTS

WORDPRESS: 2
  • comment-avatar

    After reading your article, it reminded me of some things about gate io that I studied before. The content is similar to yours, but your thinking is very special, which gave me a different idea. Thank you. But I still have some questions I want to ask you, I will always pay attention. Thanks.

  • comment-avatar

    I am sorting out relevant information about gate io recently, and I saw your article, and your creative ideas are of great help to me. However, I have doubts about some creative issues, can you answer them for me? I will continue to pay attention to your reply. Thanks.

DISQUS: 0