The Central Bank of Nigeria (CBN) has countered claims that its new policy limiting cash withdrawals is targeted at point-of-sales (PoS) agents in particular. Though the apex bank, on December 6, set the weekly withdrawal limit at N100,000 and N500,000 for persons and organisations, respectively, it made allowances for compelling cases to withdraw up to N5 million or N10 million. “Let me just correct an impression: not in any way are they (PoS agents) endangered,” t he CBN’s Director of Banking Supervision, Mustafa Haruna, said during a live appearance on Channels Television’s Sunrise on Saturday. “When you do the numbers, how much does a typical agent outlet need in a day? People need to just see this as a policy that is intended at contributing to economic growth and development, and when Nigerians know the enormous benefits inherent in this policy, I’m very sure it will shift mindsets. “It is typical when you introduce something new, there is always that trepidation and apprehen
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