CBN reduces cash withdrawal limits: What does this mean for you?

<p>This episode is also available on YouTube - <a href="https://youtu.be/Xi1ec1PYKRI" target="_blank" rel="nofollow noopener">https://youtu.be/Xi1ec1PYKRI</a><br /><br />Today on the Techpoint Africa Podcast, our reporters discuss the new withdrawal restrictions imposed by the Central Bank of Nigeria (CBN). <br /><br />On Tuesday, December 6, 2022, the CBN issued a new directive to reduce withdrawal at ATMs and PoS terminals to ₦&lrm;20,000 ($27) per day to further cashless policy. We look at how it will affect citizens, especially those operating in the informal sector.<br /><br />To advertise or promote your brand, <a href="https:/techpoint.africa/advertise">visit this link</a> or send an email to <a href="mailto:business@techpoint.africa" target="_blank" rel="nofollow noopener">business@techpoint.africa</a><br /><br /><strong>Timestamps</strong><br />00:00 - Intro<br />03:12 - Why is CBN doing this<br />04:29 - Inflation or cashless policy: CBN's endgame<br />05:50 - What this means for Nigeria's cash-driven economy<br />08:28 - Who are the biggest winners <br /><br /><strong>Useful links</strong></p> <ul> <li>CBN <a href="https://techpoint.africa/2022/12/06/cbn-reduce-atm-withdrawal-limit">reduces withdrawal at ATMs, PoS, to ₦&lrm;20,000 ($27) per day to further cashless policy</a></li> <li>6 ways the CBN&rsquo;s cash <a href="https://techpoint.africa/2022/12/07/cash-withdrawal-limit-telecom-nigeria">withdrawal limit could benefit Nigeria&rsquo;s telecom companies, from new revenue streams to increased customer penetration</a></li> <li><a href="https://www.dataphyte.com/latest-reports/economy/chartoftheday-n26-17-trillion-was-unbanked-in-2021/">N26.17 Trillion was Unbanked in 2021</a>&nbsp;</li> <li>Nigeria <a href="https://techpoint.africa/2022/12/06/techpoint-digest-470#:~:text=management%20in%20Africa-,Nigeria%20commissions%20its%20first%20humanoid%2C%20Omeife,-Last%20weekend%2C%20Nigerian">commissions Omeife, its first humanoid robot</a></li> <li>FTX-funded <a href="https://techpoint.africa/2022/12/