Nigeria’s central bank has decided to exempt mortgage banks and some microfinance lenders from cash withdrawal limits and penalties to stimulate credit access for lower-income borrowers. Last December, the bank imposed a limit of five mln naira per week on cash withdrawals by corporations from banks, with a processing fee of 5% on withdrawals exceeding this limit. President Tinubu is trying to provide cheap credit to businesses. His administration has implemented reforms, including terminating a gasoline subsidy costing USD 10 bln and relaxing FX controls.