In Malaysia, to encourage the use of non-cash payments, the government provides an incentive of RM30 into some popular e-wallets. Although at first it was a joke, but now the use of non-cash payments using applications and DuitNow is very pleasant. In Nigeria the actions taken by the central bank are more drastic and if done in Malaysia may cause anger.
The Central Bank of Nigeria lowered the daily ATM withdrawal limit from 150,000 Naira (~RM1482) to 20,000 Naira (~RM198) on personal accounts. The weekly withdrawal limit is set at 100,000 Naira (~RM988) for individuals and 500,000 Naira (~RM4941) for business accounts.
With this limit not only Nigeria wants to increase the use of nirtnai but also the use of eNaira digital currency. This ATM withdrawal limit will come into force on 9 January 2023.
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CYBER LIFE
