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THE IMPLICATION OF LIMITATION OF CASH WITDRAWALS/DEPOSITS: PROS & CONS.

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On the 6th day of December, 2022 the Central Bank of Nigeria (CBN) issued a circular directing Deposit Money Banks, Payment Service of Bank (PSB) and other financial Institutions limiting cash withdrawal by customers from their accounts. Our corporate commercial practice group recently reviewed the legal framework of this regulation from a pros and cons perspective.

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