Nigeria’s central bank bans cash withdrawals of more than $225 a week, forcing people to use CBDCs

To promote the “Cashless Nigeria” policy and increase the use of eNaira – Central Bank Digital Currency (CBDC), the country has significantly reduced the amount of cash individuals and businesses can withdraw.

Specifically, individuals and businesses will be limited to withdrawing $225/week at ATMs and $1,125/week at banks.