CBN caps PoS daily withdrawal at N100,000 to boost cashless economy

The Central Bank of Nigeria (CBN) has imposed a daily withdrawal limit of N100,000 per customer on point-of-sale (PoS) terminals, signaling a decisive step towards strengthening the nation’s cashless economy.

In a circular titled: “Cash-Out Limits for Agent Banking Transactions,” addressed to deposit money banks (DMBs), microfinance banks, mobile money operators and super-agents, the apex…