CBN Lifts Cash Deposit Restrictions On Domiciliary Account, Allows $10k Withdrawal Daily

By Sola Omoniyi, Lagos

Following the restriction of cash withdrawal from domiciliary accounts and the amount to be withdrawn per day, the Apex Bank, the Central Bank of Nigeria has lifted the restriction and allowed a $10k withdrawal per day.

Domiciliary account holders are now permitted to deposit not exceeding $10,000 per day or its equivalent transfer.

Recall that the withdrawal of deposited cash was restricted to $10,000 per week or monthly depending on the subsisting central bank policy.

However, the policy has changed as individuals can now withdraw or send a maximum of $10,000 per day from domiciliary accounts.

According to the Apex Bank, Nigerians can now deposit an unlimited amount of money into their domiciliary accounts.