The Recapitulation of Currency Redesign Policy
1. Over-the-counter withdrawal limits for individuals & corporate entities have been pegged at N100,000 & N500,000 respectively per week.
2. ATM withdrawal limit per day would be N20,000 and also pegged at N100,000 per week.
3. Third-party cheques shall not exceed N50,000 for OTC payments
4. ATMs will only dispense N200 & N100 notes
5. POS operators can only payout N20,000 per day
6. Withdrawal above the set limits would attract 5% charges
7. For bank customers with a legitimate need to withdraw up to 5M & 10M (for individuals & corporate respectively), only the CBN, through the Banks' CEOs/MDs can authorize such, subject to 5% penalty charges
The effective date is January 09, 2023
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