Commercial banks in Nasarawa State have reduced their daily over-the-counter cash withdrawal limit to N10,000, while maintaining the existing N20,000 daily withdrawal limit from Automated Teller Machines (ATMs).
Key Points:
1. Reduced Withdrawal Limit: Banks in Nasarawa State have reduced their daily over-the-counter cash withdrawal limit to N10,000.
2. ATM Withdrawal Limit: The existing N20,000 daily withdrawal limit from ATMs remains unchanged.
3. Reason for Reduction: Bank staff attributed the reduction to inadequate cash in the banks’ vaults.
4. Impact on Customers: The reduction has led to increased Point of Sale (POS) charges, with operators charging between N200 and N250 for N5,000 withdrawal and N400 for N10,000 withdrawal.
The development has caused frustration among bank customers, who are struggling to access funds due to the reduced withdrawal limit.
Source: Vanguard
