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CBN Lifts Cash Deposit Limits for Bank Customers

The Central Bank of Nigeria (CBN) has officially ended restrictions on cash deposits for bank customers, removing previous limits that capped daily or monthly deposits. This move aims to enhance banking flexibility, boost liquidity, and support businesses and individuals in seamless financial transactions. Bank customers can now deposit any amount without facing regulatory constraints, signaling a shift towards more customer-friendly banking policies. Analysts believe this will stimulate economic activities and reduce pressure on alternative informal channels.