The Central Bank of Nigeria (CBN) has introduced a new policy to strengthen its drive towards a cashless economy, setting a daily maximum transaction cash-out limit of N100,000 per customer for agency banking operators, also known as Point of Sale (PoS) operators. This directive, outlined in a circular issued on Tuesday by the CBN’s Payments System Management Department and signed by Oladimeji Yisa Taiwo, aims to enhance the use of electronic payment channels, address operational challenges, combat fraud, and establish uniform standards across the industry. According to the circular, the…
Read MoreCBN SETS N100,000 TRANSACTION LIMIT FOR POS
