Nigerian central bank limits cash withdrawals

Godwin Emefiele
CBN governor Godwin Emefiele
Photo: IMF Staff Photo/Stephen Jaffe

Nigeria’s central bank has severely limited the amounts of cash people can withdraw from ATMs, sparking protests by some of the country’s legislators.

The move may cause serious disruptions in a country where most people are unbanked and use cash rather than electronic payments. Central Bank of Nigeria governor Godwin Emefiele told media the policy aimed to push Nigerians to use cashless means of payments.

Emefiele also said the move would help stop corruption and crime, including the payment

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