Commercial banks may be planning to introduce an across-the counter cash withdrawal limit of N10,000.
According to Vanguard, Deposit Money Banks (DMBs), under the aegis of the Bankers Committee, have already approached the Central Bank of Nigeria to propose the limit.
Sources said the measure being contemplated would drastically reduce the number of customers that would need to physically visit banking halls for transactions.
Sources said the aim is to promote greater use of electronic banking and smaller workforce – as a means of cutting cost of operations.
Already, some banks had laid off many workers, citing operational losses, especially as the Treasury Single Account policy has deprived them of Federal Government deposits.
It took the intervention of the Federal Government, which even had to threaten banks with severe sanctions, including the withdrawal of their licences, to pull back on the gale of mass sack.