NIGERIAN BANKS INTRODUCE NEW WITHDRAWAL LIMITS FOR POS TRANSACTIONS: N100K DAILY, N500K WEEKLY
In a move aimed at reducing the risk of fraud and promoting electronic payments, banks in Nigeria have begun implementing a new withdrawal limit for Point of Sale (PoS) transactions. The new limit, which takes effect immediately, sets a daily withdrawal limit of N100,000 and a weekly limit of N500,000 for PoS transactions. The implementation…