POS

The Central Bank of Nigeria (CBN) has countered claims that its new policy limiting cash withdrawals is targeted at point-of-sales (PoS) agents in particular. Though the apex bank, on December 6, set the daily withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for compelling cases to withdraw up to […]

The Central Bank of Nigeria (CBN) said point-of-sale (POS) operators can get more cash for their businesses despite the new withdrawal limits announced a few days ago.  The policy limits over-the-counter cash withdrawals by individuals and businesses to N100,000 and N500,000, respectively, per week. It also limits point-of-sale (POS) and automated teller machines (ATMs) to