CASH LIMIT WITHDRAWAL: Pain to kidnappers, force against inflation, informal sector

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new naira notes CASH LIMIT WITHDRAWAL: Pain to kidnappers, force against inflation, informal sector
new naira notes CASH LIMIT WITHDRAWAL: Pain to kidnappers, force against inflation, informal sector

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By Peter Egwuatu,  Yinka Kolawole, Levinus Nwabughiogu, Rosemary Iwunze, Nkiruka Nnorom, Providence Ayanfeoluwa, Elizabeth Adegbesan & Ibrahim Hassan

Mixed reactions have continued to trail the directive by the Central Bank of Nigeria (CBN) to limit cash withdrawal from over the counter in banks, Automated Teller Machines (ATMs) and Point of Sales (PoS), with some stakeholders saying it will enhance financial inclusion and curb inflation while others think it would be counter-productive.

The general views by the respondents however indicate that although the implementation of the policy will come with initial pains, it is however good for the economy in the long run.   Recall that CBN recently announced a policy limiting cash withdrawals from over the counter, PoS terminals ATMs to N100, 000 and N500, 000 weekly for individuals…



Source: Vanguard Newspaper