In the continued efforts in trying to restore the confidence in Naira, the Central Bank of Nigeria has issued banks a new directive which affects withdrawal limits on ATMs and foreign transactions on all existing Naira debit cards (ATM cards).
In the new order, ATMs that were hitherto enabled for domestic and foreign transactions will not release more than N60,000 per day while foreign currency is $300 per day. Formerly, the domestic withdrawal limit was N150,000 per day.
The new arrangement has separated traditional ATM from MasterCard credit card where the former has now been deactivated and can no longer be used for transactions abroad.
Also single ATM card serves for transactions for both domestic and abroad. Also, the restructured cards now have spending limits on POS/eCommerce (online shopping) pegged at $300 (about N60,000) per day.
Prior to this, the limit was N2 million per day. In the new arrangement, for a bank customer with multiple debit cards (ATM cards), only the one linked to the primary transactional account will be enabled for use abroad.
- Vanguard Extract
Mscheeewwwwww!!!!
*This is not funny anymore and i hope that this is reversed when the naira stabilises.
Mscheeeew!
eeeeeiissshhh dem 4 kuku make am 10,000...with the rate all these boys rob man nid de kiafu!
ReplyDeleteWhat rubbish is this?how about we that do biz,weekend spending and all that.
DeleteSo if u have to give so mine about 60k weekend u have to wait til Monday or if is week days,go inside the bank that's trash.
For ur left mind Local juice keep dreaming, u? give fire u get shishi? onye aguru
DeleteIf u get mind use your id...at the end of the day u just a speck of dirt I wipe off my table and sit and work for my money.
DeleteSo for your mind, you have made a point?@clara
DeleteGood
ReplyDeleteYour comment will be visible after approval
This is not acceptable!!!
DeleteDespite being an amiable supporter,i think id just have to say this,Buhari and his cohort must be mad.
What kinda silly explanation is this,how does reducing d daily withdrawal of 60k help our naira.
What bout those that have their banks located @a distant or rather those in d village that have to travel miles to go 2dia bank but d best bet is to use an atm and let's say i need 100k 4sometng important or an emergency,what is gonna happen then huh??? So they are expected to make such trip 2wice or 3rice ba?
Ds doesn't go dwn well wv me @all. The Cbn gov and it's policy makers must be raven mad habaa
What is Good about this trash??? Its penniless people without anything tangible in their accounts that can be happy about this nonsense. Mtchewwww.
DeleteOh no!
ReplyDeleteBut if it's gonna help our Naira,by all means den.
How would limited use of the naira impact its value?
DeleteThe CBN directive
1; that limits amount withdrawn per day on A T M
2; that limits the number of times one can send money out of the country
Somebody please enlighten us...
hmmmm Change indeed!
ReplyDeleteIt should be reversed now. Its totally unacceptable. I pay for things over 60k or more using pos most days. Which kain wahala be dis.
ReplyDeleteI absolutely hate entering d banking halls.
Am telling u. I hate queue in d banking halls.
DeleteI pray for a better Nigeria.
ReplyDeleteToday na today. First increased VAT then reduced ATM withdrawal limit.Phew!!!
ReplyDeleteThis really annoying sha
ReplyDeleteNa wa oooo.. for person to spend him money for naija na problem again. nothing we no go hear oo
ReplyDeleteI just wonder o @Ms. Nicey.....i really wonder.
DeleteIf dem like they should put it at N10,000 a day. that one concern them.
ReplyDeleteBaba Go Slow is working with Emefiele. That man that is afraid Daura Dullard will soon fire him.
Buhahahahahahahaha, Loveme Jeje be case aswear, Lol @Baba go slow.
DeleteThank goodness she has learnt how to spell Daura properly. FINALLY!!! You go girl!
Deletea.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
Nna many people will definately not be happy with this development though no doubt....
.
.
***CURRENTLY IN JUPITER***
HMMMMMMMM, SUCH A REDUCTION???MEHN...BOYS AINT SMILIN...TOMJERRYSWIT
ReplyDeleteI was so pissed when I heard it....is effective starting from 2day.
ReplyDeleteWhat of in a case of emergency?
60k is too poor!
Buhari is this the change?
This isn't gonna add value to naira......!!
Let's watch and see
60 is ok na lol.... Club owners go hear am hot.
ReplyDeleteto spend for Nigeria now na problem. to spend for abroad sef na wahala.. na wa ooo
ReplyDeleteNoted
ReplyDeleteAhn Ahn.... people will start keeping money in their houses oh
ReplyDeleteWhat is this now?
Jesus Christ why?
ReplyDelete#GODWIN™
Na wa oooo!!
ReplyDeleteTo think of most businessmen complaining that the 100k limit is too poor;now its 60k?? This people are just not serious!
Na so cue go dey full bank henceforth and nkea agaghi atọkwa ọchị at all....
XTREME MIXTAPE VOL.2;CLICK TO LISTEN/DOWNLOAD
@MARTINS ABOY
We don hear oooo....CHANGE era...waiting patiently
ReplyDeleteStella, it is called austerity measures.
ReplyDeleteNigerians should buckle their belt.
This is the consequence of the "changi" that they voted for.
*tighten their belts.
DeleteHaters,abegi na auto correct oooo.
This cbn governor is a very confused person. Stelz na ur brother oh warn am oh!
ReplyDeleteThis CBN Governor sef!He for make am N500.00 na! When banks are encouraging their customers to be using ATM so as to decongest the banking halls, he is frustrating them.
ReplyDeleteIt is ridiculous to cap spending at $300 a day for both cash and POS transactions. They're in danger of leaving Nigerians abroad stranded. Some hotel bills are much higher than this. How are we supposed to manage?
ReplyDeleteIts fr security reasons..its going to affect some people though
ReplyDelete**vianson**
Nawa for this new CBN governor.This is not the cashless economy Sanusi promised us o.
ReplyDeleteI think its good for the economy
ReplyDeleteThis is trash. So it means I have to go for shopping with enough cash. With the way those Tinubu's boys are robbing people coming out from the banks recently, one need to be careful.
ReplyDeleteWhy are people complaining? We wanted 'change' and now we have it. I believe ATM transactions should be further reduced to ten thousand a day. Change is here. Change.. Change.. Change... Change
ReplyDeleteWhy are people complaining? We wanted 'change' and now we have it. I believe ATM transactions should be further reduced to ten thousand a day. Change is here. Change.. Change.. Change... Change
ReplyDeleteChange is here!!! Lol
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIt's totally unacceptable
ReplyDeleteIt's totally unacceptable
ReplyDeleteNot funny.
ReplyDeleteWe sabi since naa. It's just the business people I pity.
ReplyDeleteI laugh spanish laugh...a lot of people commenting here dont even have such money in their accounts....forming big...mtchew.....liars and fakes.Its a welcome developement for our economy.No pain, No gain.
ReplyDeleteQuite funny indeed. The same people that need giveaways are suddenly not happy about 60k limit on ATM withdrawals. Are they complaining about not accessing their money or their benefactors not having enough to spare them? Hmmmmmm I laugh in Xhosa
DeleteI don't know if this is a step toward the right direction or not, But I do know that this cbn Governor is clueless and needs to be sacked immediately. He was only given this position cos that money that "disappeared " during jona's government is in zenith bank. Naira has been on a downward spiral since he resumed office.
ReplyDeleteIt's an avenue to have many accounts, all one need is to request for atm cards and also fund the accounts in case you exceed one, you can use the other banks atm cards.
ReplyDeleteHe he na wa ooh
ReplyDelete@franklin please which of the Clara might u b referring to?
ReplyDeleteEmefiele has totally gone clueless like the clueless GEJ that appointed him as the CBN Governor.....
ReplyDeleteYeye dey smell...gross incompetent man putting ridiculous limits on all avenues for spending.
Wahala dey. How do they want people that travel to pay for their hotel bills. This is so not good.
ReplyDelete