Nigerian Bank's Withdrawal Limits Begins Amid Concerns Over New Naira Notes 

The cash withdrawal limits set by the Central Bank of Nigeria become effective January 9, 2023 amid concerns over the slow spread and quality of three newly redesigned naira notes. <br />The CBN says the new policy was sequel to the launch of the redesigned N200, N500 and N1,000 notes by President Muhammadu Buhari on November 23, 2022. <br />The directive created controversy and outrage from millions of Nigerians and members of the National Assembly who disapprove of the policy. <br />Many PoS operators had said the policy would strangulate their activities and rob them of employment while politicians said it was targeted at opposition parties ahead of the 2023 general elections.