According to a statement released by the Central bank of Nigeria withdrawal limits on Automated Teller Machine have been downgraded.
CBN limits ATM withdrawals to N60,000, $300 per day
Before this, the domestic withdrawal limit was pegged at N150,000 per day.
CBN Governor, Godwin Emefiele
In the new setup, all ATMs that were enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Before this, the domestic withdrawal limit was pegged at N150,000 per day.
The new arrangement has separated traditional ATM from MasterCard credit card with the former now deactivated and can no longer be used for transactions abroad.
Before now, a single ATM card could be used for transactions both domestic and abroad.
ADVERTISEMENT
In the new arrangement, a bank customer with multiple debit cards (ATM cards) will only be able to use the one linked to the primary transactional account abroad.
Previously, such customers could transact with any of their ATM cards that was funded.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Why our plane made emergency landing at Lagos airport, Air Peace clarifies
Over 75% of Katsina children are multidimensionally poor – UNICEF
PDP unveils 200-member campaign council for Ighodalo's guber election in Edo
Tinubu approves resumption of repair work on Third Mainland Bridge
Ondo Poll: Ganduje consoles Jimoh Ibrahim after crushing defeat in APC primary
FG to review recent price hike of DStv, GOtv packages amid public outcry
BREAKING: FG grants Air Peace right to commence Abuja-London flights - Keyamo
Deputy who dumped Akeredolu clinches PDP governorship ticket
Gov inaugurates 2nd phase of palliative distribution to poor Enugu residents
ADVERTISEMENT