The Central Bank of Nigeria has directed Nigerian banks to set N100,000 per day as a withdrawal limit for customers on point-of-sale terminals nationwide amid cash scarcity. The apex bank disclosed this in a recent circular to all Nigerian...

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Naira scarcity: CBN fixes N100,000 as limit for PoS withdrawal - Nigeria News Update

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The Organised Private Sector on Wednesday kicked against the decision of the Central Bank of Nigeria to limit the withdrawals from Point-of-Sale agents, stressing that the apex bank is not in touch with reality. CBN introduced a daily cash-out transaction limit of N100,000 per individual customer for Point-of-Sale agents as part of new measures to

Punch Newspapers

Cash scarcity: OPS faults CBN’s limit on PoS withdrawals

The bank explained that the restriction aligns with the apex bank’s ongoing efforts to advance a cashless economy. The post CBN limits POS daily withdrawal to N100,000 appeared first on Premium Times Nigeria.

Premium Times Nigeria

Abuja

Municipal Area Coun

Federal Capital Territory

CBN limits POS daily withdrawal to N100,000

The Central Bank of Nigeria has released new guidelines for Point-of-sales operations in Nigeria set a limit on withdrawal amounts, and promised to monitor.

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Ikeja

Lagos

CBN announces new daily, weekly cash withdrawal limit for Pos operators

The Central Bank of Nigeria (CBN) on Wednesday announced a daily withdrawal limit on Point Of Sale (PoS) terminals to N100,000 per customer. The circular PSMIDIR/PUB/CIR/001/057 dated December 17, 2024, was sent to all Deposit Money Banks (DMB), Microfinance Banks, Mobile Money Operators and Super Agents. According to the circular issued by the Director of the Payments System Management Department at CBN Oladimeji Taiwo, the interventions aim to…

The Whistler Nigeria

CBN Pegs Maximum Withdrawal From POS At N100,000

The Central Bank of Nigeria (CBN) has introduced a daily transaction limit of N100,000 per customer for cash-out transactions conducted by Point of Sale (POS) agents.  The post CBN sets daily cash-out limit for POS transactions at N100,000 per customer  appeared first on Nairametrics.

Nairametrics

CBN sets daily cash-out limit for POS transactions at N100,000 per customer

The Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. In a circular sent to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’ CBN noted that the new directive is in line with the apex bank’s ongoing efforts to advance a cashless economy. According to the circular, the interven…

Instablog9ja

CBN limits daily withdrawal on POS to N100,000

By Modupe Gbadeyanka As part of measures to promote its cashless policy, the Central Bank of Nigeria (CBN) has directed Point-of-Sale (POS) agents not to pay more than N100,000 as cash to each customer per day. The banking sector regulator also restricted the POS operators not to pay more than N1.2 million per day as […]

Business Post Nigeria

CBN Fixes N100,000 as Maximum Daily Cash Withdrawal Via POS

The Central Bank of Nigeria (CBN) has announced a new daily cash withdrawal limit of N100,000 per customer for transactions through Point-of-Sale (POS) agents. In a circular sent to deposit money banks, microfinance banks, mobile money operators, and super-agents, the CBN explained that this measure supports its drive toward promoting a cashless economy. The directive, […]

Kanyi Daily

CBN Sets N100,000 Daily Limit On POS Withdrawals

Following Tuesday’s Central Bank directive limiting cash disbursement, Point of Sale (POS) banking agents across Lagos are exploring ways to cope with the changes—mainly, by raising withdrawal fees.  On Tuesday, the CBN set a daily limit of  ₦1.2 million per POS agent and capped withdrawals at ₦100,000 per customer. This is the latest attempt to rein in POS agents, who have become a crucial source of cash since a CBN-engineered cash scarcity in …

Naira scarcity: CBN fixes N100,000 as limit for PoS withdrawal - Nigeria News Update

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