The Central Bank of Nigeria (CBN) has countered claims that its new cash withdrawal policy limit is targeted at point-of-sales (PoS) agents.
Though the apex bank, on December 6, set the weekly withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for compelling cases to withdraw up to N5 million or N10 million.
The CBN’s Director of Banking Supervision, Mustafa Haruna made the clarification on Saturday while appearing on Channels TV programme.
His words;
“Let me just correct an impression: not in any way are they (PoS agents) endangered,” .
“When you do the numbers, how much does a typical agent outlet need in a day?
“People need to just see this as a policy that is intended at contributing to economic growth and development, and when Nigerians know the enormous benefits inherent in this policy, I’m very sure it will shift mindsets.
“It is typical when you introduce something new, there is always that trepidation and apprehension.
“But that is why we are also combining it with extensive and sustained campaigns and sensitisation just to ensure that Nigerians understand what is at play, what is involved, and what is in it for them.”
