CBN Sets Cash Withdrawal Limits for PoS Transactions

The Central Bank of Nigeria (CBN) announced new daily and weekly cash withdrawal limits for Point of Sales (PoS) transactions, setting a cumulative cash transaction limit of N1 million per agent and individual customer per day. The revised framework aims to enhance financial stability, promote inclusion, and protect consumers in the agent banking ecosystem.

The directive also includes restrictions on cash deposits and bill payments. The CBN emphasized the importance of compliance with the new regulations to ensure the effective implementation of agent banking services across the country.