Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/001/049
Title: Exemption of Primary Mortgage Banks and Microfinanace Banks from Cash Withdrawal Limits
Summary: The Central Bank of Nigeria has exempted microfinance banks and primary mortgage banks from paying processing fees for withdrawals above cash withdrawal limits for direct cash withdrawals from their correspondent banks. This exemption is to allow them to continue providing specialized retail banking services to the economically active poor. However, it is important to note that these banks must still comply with the cash withdrawal limits specified in a previous circular.
Posted on: Monday, July 31, 2023
Download: PSM/DIR/PUB/CIR/001/049