IPFS News Link • Africa: On the Map
Nigeria Limits Cash Withdrawals to $45 per Day in CBDC, Digital Banking Push
• DecryptNigeria has imposed limits on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira.
In a letter to banks and other financial institutions published on Tuesday, the Central Bank of Nigeria (CBN) applied new limits on over-the-counter withdrawals at just ?100,000 ($225) per week for individuals and ?500,000 ($1,123) for businesses.