Money
Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter withdrawal limit to N50,000 per day.
A survey conducted by our correspondent on Tuesday revealed that banks, including, have increased the withdrawal limit, enhancing it from N5,000 that was allowed to customers last month.
At the GTBank branch located along the airport road, customers were allowed to withdraw N50,000 over the counter but a limit of N20,000 at its automated teller machines.
An official who spoke to our correspondent said the bank is now in possession of more cash, and that is the reason why the limit was increased.
“We now have more cash, and that is why we are giving out more money. Simple.”
Meanwhile, point-of-sale operators have stated that an increase in the withdrawal limit would not reduce their service charge.
Currently, POS operators charge N800 for a withdrawal of N20,000 and N2,000 for a withdrawal of N50,000.
He said, “How will I reduce my charges because banks are now giving N50,000? Let it be stable first, then it would reduce.”
Kelvin Alaneme, a Nigerian author and medical professional, has sworn to sue the British Broadcasting…
Quincy Ayodele, an elder in the Redeemed Christian Church of God, City of David Parish,…
The Toronto Police Service has reported that Omotayo, a Nigerian man living in Canada, has…
Hong Kong's police chief, justice secretary, and other officials were sanctioned by the United States…
Residents in the neighborhoods surrounding Old Ilushi Road, Opere, and Good Will Junction in Uromi,…
The Nigerian stock market has seen a decrease in foreign investor participation since February 2025,…