Saturday, April 1, 2023
No Result
View All Result
Blockchain Daily Report
Advertisement
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS
Crypto Marketcap
Logo
No Result
View All Result
Home Bitcoin

Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’ – Africa Bitcoin News

by Blockchain Daily Report
December 23, 2022
in Bitcoin
Reading Time: 3 mins read
A A
0
Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’ – Africa Bitcoin News
Share on FacebookShare on Twitter


Barely a month after asserting the proscribing of money withdrawals to below $50 per week, the Central Financial institution of Nigeria mentioned on Dec. 21 that people will be capable to withdraw an equal of $1,120 per week beginning on Jan. 9, 2023. The central financial institution mentioned people and company organizations withdrawing quantities exceeding the brand new limits could be required to pay processing charges of three% and 5% respectively.

CBN’s Digital Forex Push

The Central Financial institution of Nigeria (CBN) has mentioned that beginning on Jan. 9, 2023, particular person banking shoppers will be capable to withdraw an equal of $1,120 (N500,000) per week, up from the below $50 cap launched on Dec. 6. For company organizations, the CBN mentioned the money withdrawal could be capped at $11,200, an almost tenfold enhance from the beforehand introduced restrict.

In a brand new round to heads of economic establishments, the CBN, which is pushing for the broader adoption of its digital forex, mentioned its determination to revise the money withdrawal limits was “primarily based on suggestions acquired from stakeholders.” The financial institution added that whereas it pushes for a cashless society it stays conscious of the function performed by money, notably in underserved communities.

“The CBN acknowledges the important function that money performs in supporting underserved and rural communities and can guarantee an inclusive strategy because it implements the transition to a extra cash-less society,” the central financial institution assertion mentioned.

Processing Charges for Withdrawals Exceeding New Limits

As beforehand reported by Bitcoin.com Information, the Nigerian central financial institution’s determination to limit money withdrawals got here because it ready to unveil new banknotes. The brand new banknotes, which had been subsequently launched into circulation on Dec. 15, are a part of an try by the CBN to advertise the use and adoption of the e-naira.

In the meantime, within the newest round, the CBN mentioned people and company organizations that want to withdraw quantities exceeding new limits could be charged processing charges of three% and 5%, respectively. As well as, such withdrawals will likely be processed after the consumer furnishes the financial institution with a number of paperwork that embrace a letter from the CEO of a monetary establishment authorizing the withdrawal.

Register your e-mail right here to get a weekly replace on African information despatched to your inbox:

What are your ideas on this story? Tell us what you suppose within the feedback part under.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively in regards to the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.



Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss precipitated or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

Extra Well-liked Information

In Case You Missed It



Source link

Tags: AfricaBankBitcoinCashCentralFeedbackIncreasesLimitsNewsNigerianReceivingStakeholdersWithdrawal
Share76Tweet47

Related Posts

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

by Blockchain Daily Report
April 1, 2023
0

After recovering its bullish momentum, the most important cryptocurrency out there, Bitcoin (BTC), briefly broke above its key resistance stage...

Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

by Blockchain Daily Report
April 1, 2023
0

Voyagers’ outfits remodeled into their assigned group colours, and gamers started to assemble into teams. Moments later, a wormhole to...

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

by Blockchain Daily Report
April 1, 2023
0

This week, 2,600 tech trade moguls and entrepreneurs, together with Elon Musk, Gary Marcus, and Steve Wozniak, signed an open...

Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

by Blockchain Daily Report
April 1, 2023
0

Blink’s identify and options mirror the venture’s need for use by Bitcoin communities the world over.The Bitcoin Seaside Pockets has...

Binance.US Temporarily Halts BUSD Deposits And Withdrawals

Binance.US Temporarily Halts BUSD Deposits And Withdrawals

by Blockchain Daily Report
March 31, 2023
0

On March 31, Binance.US, a US-based subsidiary, introduced that it had quickly suspended buying and selling for stablecoin pairs involving...

Load More
  • Trending
  • Comments
  • Latest
Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

Mine CLORE Coins Used by the CLORE.AI Distributed Computing Platform

January 23, 2023
Arbitrum Goerli Faucet – Get Arbitrum Testnet ETH in 3 Steps

Arbitrum Goerli Faucet – Get Arbitrum Testnet ETH in 3 Steps

February 14, 2023
Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

Bitcoin’s Horizontal Levels Show Potential For Bullish Trend

April 1, 2023
Can Dogecoin Reach Its Previous ATH? Let’s Take A Look At The Facts

Can Dogecoin Reach Its Previous ATH? Let’s Take A Look At The Facts

April 1, 2023
ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

March 31, 2023
Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

Over 7,000 Players Successfully Converged in Yuga Labs’ Otherside Metaverse ‘Second Trip’

April 1, 2023
Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News

April 1, 2023
Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March – Bitcoin News

Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March – Bitcoin News

March 31, 2023
Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

Bitcoin Beach Wallet Renamed To Blink In Addition To Changes Aimed At Making The App Global

April 1, 2023
Alpine Teams with Binance to Offer Fans Unique F1 NFT!

Alpine Teams with Binance to Offer Fans Unique F1 NFT!

March 31, 2023
Facebook Twitter Instagram Youtube RSS

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Blockchain Daily Report.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • SCAM ALERT
  • REGULATIONS
  • ANALYSIS

Copyright © 2022 Blockchain Daily Report.
Blockchain Daily Report is not responsible for the content of external sites.

  • bitcoinBitcoin(BTC)$28,450.002.20%
  • ethereumEthereum(ETH)$1,825.091.45%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$314.77-0.12%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • rippleXRP(XRP)$0.51-5.19%
  • cardanoCardano(ADA)$0.3920451.41%
  • staked-etherLido Staked Ether(STETH)$1,819.161.64%
  • dogecoinDogecoin(DOGE)$0.0772533.59%