Deposit Money Banks have increased the maximum withdrawal limit over the counter in the Federal Capital Territory from N5,000 allowed to customers last month to N50,000 per day.
An official GTBank branch located along the airport road disclosed that customers were allowed to withdraw N50,000 over the counter because the bank is now in possession of more cash.
“We now have more cash and that is why we are giving out more money. Simple.”
Meanwhile, Point of Sales operators have stated that an increase in the withdrawal limit would not reduce their service charge.
Currently, POS operators charge N800 for a withdrawal of N20,000 and N2,000 for a withdrawal of N50,000.
An operator, Faith, who spoke to PUNCH Online said a steady supply of cash would reduce service charges and not a one-time compliance by banks.
He said, “How will I reduce my charges because banks are now giving N50,000? Let it be stable first, then it would reduce.”
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