[Ymani Cricket]

Nigeria Limits Cash Withdrawals to $45 per Day in CBDC, Digital Banking Push

A year after launching its CBDC, the Central Bank of Nigeria has capped cash withdrawals to get more people to go cashless.

"Nigeria has imposed limits on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira."

"In a letter to banks and other financial institutions published on Tuesday, the Central Bank of Nigeria (CBN) applied new limits on over-the-counter withdrawals at just ₦100,000 ($225) per week for individuals and ₦500,000 ($1,123) for businesses."

[bitt]

Bari Weiss’s THREAD makes this so clear I am keeping it on my phone to display to naysayers...

https://threadreaderapp.com/thread/1601007575633305600.html