BREAKING: Beware Of POS Scammers As #CBN Announces N200 As Biggest ATMs Denomination—-The Genius Media Nigeria reports that Africa’s Leading Veteran Investigative Journalist Anti-drug Abuse Advocate and Award Winning United States trained Pharmacist has just raised alarm of an impending POS scammers moment Central Bank of Nigeria limits cash withdrawals to N100,000 weekly.
She made this known via her verified twitter page.
This is coming after CBN imposed fresh cash withdrawal limits on individuals and organisations, which takes effect from January 9, 2023.
According to a new memo to banks issued on Tuesday and signed by the Director of Banking Supervision, Haruna .B. Mustafa, individuals will only be able to withdraw N100,000 per week ( from over the counter, Point of Sale Machines or the Automated Teller Machines), while organisations can access N500,000 per week.
Banks have also been directed to load only N200 and lower denominations into their ATM.
The memo read, “Further to the launch of the redesigned naira notes by the President, Major General Muhammadu Buhari (retd.), on Wednesday, November 23, 2022, and in line with the cashless policy of the CBN, all deposit money banks and other financial institutions are hereby directed to note and comply with the following:
“1. The maximum cash withdrawal over the counter by individuals and corporate organisations per week shall henceforth be N100,000 and N500,000 respectively. Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively.
“2. Third-party cheques above N50,000 shall not be eligible for payment over the counter, while extant limits of N10,000,000 on clearing cheques still subsist.
“3. The maximum cash withdrawal per week via Automated Teller Machine shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.
“4. Only denominations of N200 and below shall be loaded into the ATMs.
“5. The maximum cash withdrawal via the point of sale terminal shall be N20,000 daily.”
Reacting to the memo. she tweeted:
#BREAKING CBN @cenbank has now limited your maximum cash withdrawal per week via ATM to N100K subject to a maximum of N20K cash withdrawal/day. The highest denomination in ATM’s will be the pink N200 notes. More crowds in banks, more robberies, more POS scammers #kemifiedng
https://twitter.com/KemiOlunloyo/status/1600167312707162117
