• Wednesday, February 21, 2024
businessday logo

BusinessDay

Criticism trails new CBN policy on ATM withdrawal limit

ATM-customers

Some bank customers in Jos, on Monday criticised the new Central Bank of Nigeria (CBN) policy, which cut down withdrawals from Automated Teller Machines (ATM).

The customers in separate interviews  expressed disappointment with the policy which cut down ATM withdrawals from N100, 00 to N60, 000.

Mr Sunday John, a trader, said that the policy would cripple business activities especially during weekends.

According to him, the new CBN directive contradicts its cashless policy and should be reversed.

“This is because most banks customers, who have become used to going to ATMs to withdraw whenever they have need of cash, are now constrained to make maximum withdrawals.”

Mr Emeka Chika, another customer, said that the policy was “not business-friendly.”

He said that as a businessman, the policy would affect his capacity especially during weekends.

Mr Emmanuel Chukwu said that the policy had delayed him from finishing a project at the weekend due to insufficient fund.

He appealed to the CBN to “provide an alternative or increase the cash withdrawal limit.”