Several Deposit Money Banks (DMBs) in Nigeria are reportedly set to increase their cash withdrawal limits from the current range of N20,000-N50,000 to over N80,000-N100,000. Multiple bank officials have confirmed that the move is aimed at helping bank branches tackle long queues in some cities across the country. According to findings, most DMBs currently pay between N20,000 and N50,000 over-the-counter and Automated Teller Machines (ATMs). However, officials told The Standard Gazette that banks are planning to raise the limits to enhance currency circulation and put a permanent end to queues in banking halls and ATM galleries. Bank Customers queuing in the bank The move comes after the Central Bank of Nigeria (CBN) directed commercial banks to open for operation on Saturdays and Sundays as part of a coordinated effort to ease the circulation of old and new banknotes. This followed the release of billions of old naira notes to DMBs by the CBN. However, the release of old naira notes had been mired in controversy, with the Supreme Court finally issuing a ruling on their legal status. The move towards higher withdrawal limits is expected to help ease the situation and reduce queues at bank branches and ATMs. In recent days, customers had been thronging banking halls and ATM galleries to get cash, despite banks working throughout the weekend. However, the situation appears to have improved, with visits to several bank branches in Lagos, Abuja, Ogun State, and other cities revealing that queues at banking halls and ATMs had reduced. Nonetheless, concerns have been raised about the operation of some banks, with some claiming to have low allocations from the apex bank.