Archives Tag: withdrawals
The Impact of the New CBN Withdrawal Policy
April 19, 2022
On the 6th of December, the Central Bank of Nigeria (CBN) announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000 respectively per week. Read more about Finance Several experts and observers have … Continue reading The Impact of the New CBN Withdrawal Policy
Accounts Without BVN Suspended, BVN Enrolment Continues
April 19, 2022
Banks are now complying with the Central Bank of Nigeria’s directive that all accounts without Bank Verification Numbers (BVN) should be temporarily restricted from debit transactions. This means that accounts without BVN can only receive transfers and deposits but cannot make payments or withdrawals. Please note that these accounts are still valid and these restrictions will … Continue reading Accounts Without BVN Suspended, BVN Enrolment Continues
By mary-odunuga
