Banks to Increase Cash Withdrawal Limits to Ease Long Queues
To combat long queues at bank branches and ATMs, Deposit Money Banks in Nigeria may increase cash withdrawal limits from the current range of N20,000-N50,000 to over N80,000-N100,000.
This move comes after reports of customers converging on bank premises to withdraw cash, leading to lingering queues in some cities across the country.
Some bank officials have noted that the increased limits will help with the circulation of notes.
While some branches have seen reduced queues, others have reported low cash allocation from the Central Bank, leading to a lack of funds for disbursement.
Overall, the aim is to make cash withdrawal easier and more efficient for customers.
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