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Reading: Nigerian Banks Reduce Daily Withdrawal Limit on ATMs. (Details)
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Nigerian Banks Reduce Daily Withdrawal Limit on ATMs. (Details)

Farouk Mohammed
By Farouk Mohammed
Published: August 11, 2015
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atm-machine

Nigerian banks have reduced the daily withdrawal limit on Automatic Teller Machines (ATMs) and foreign transactions on all existing Naira debit cards (ATM cards).

All ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Hitherto, the domestic withdrawal limit was N150,000 per day.

Also, spending limits on POS/eCommerce (online shopping) have been pegged at $300 (about N60,000) per day. Before this, the limit was N2 million per day.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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