The limit is the latest effort by Nigeria to discourage cash usage. The country is set to redesign high-value notes and is giving people until January to switch out their old paper money. The central bank is also planning to mint more of its eNaira digital currency, which launched last year.
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Nigeria limits ATM withdrawals to boost digital payments
The Central Bank of Nigeria has capped daily ATM withdrawals at $45 in order to encourage electronic payments, including the eNaira digital currency.
