A man went to a commercial bank to withdraw cash, and he was told there was a limit to how much he could withdraw.
The man said he was told the maximum amount he could withdraw at the branch he went to was N10000.
In a post he made on X, Devdhee said even the ATMs at the bank he went to were not dispensing cash.
This did not go down well with Devdhee. He noted that withdrawal limit from another bank’s machine was pegged at N5000.
His words:
“Some of you were really clamouring for a clampdown on POS agents. Yesterday, I walked into the bank to withdraw some money from MY account. I was told the maximum amount I can withdraw was 10k. Ps: the ATMs outside the bank were not working.
“Daily limit of 20k on your card. Can’t withdraw more than 5k at once on another bank’s machine, 10k at once on your bank’s machine. It’s madness at this point.”
See the post below:
Reactions to cash withdrawal limits
@finextlordh said:
“If the machines were working sef, it will have limit.”
@MartinsEromo said:
“What happened to CBN directive to banks concerning this cash issue?”
Banks reduce withdrawal limit further
Earlier, Legit.ng reported that many banks reduced their withdrawal limits.
Nigerian commercial banks, which gave N10,000 per transaction earlier in the week, reduced the cash withdrawal to N5,000 and N2,000.
Point of Sale (POS) operators also increased their transaction charges. Customers of one of the commercial banks in Lagos decried their inability to withdraw cash.
Meanwhile, the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASBIFI) said the CBN’s inability to provide cash for commercial banks was responsible for the scarcity.
