The Central Bank of Nigeria (CBN) has announced a sweeping overhaul of the nation’s cash-handling regulations, unveiling fresh withdrawal limits while completely abolishing the cumulative cash deposit cap for bank customers.
In a circular issued on 2 December 2025 and signed by the Director of the Financial Policy and Regulation Department, Dr Rita I. Sike, the apex bank described the policy reset as a necessary step to cut the rising cost of cash management, strengthen security around cash movements, and curb money-laundering risks in a country that still depends heavily on physical currency.
According to the CBN, previous cash policies were rolled out in response to the country’s shifting economic conditions. However, the bank noted that changing realities now demand a streamlined and more effective framework.
In a major shift, the cumulative cash deposit limit has been completely removed. This means customers will no longer pay fees for depositing amounts that exceed earlier thresholds—an adjustment expected to encourage higher deposit volumes and boost liquidity across the financial system.
New Withdrawal Limits Introduced
Under the revised rules, individuals
may now withdraw a maximum of ₦500,000 per week across all channels, including ATMs, POS terminals, and over-the-counter transactions. Corporate account holders will be allowed weekly withdrawals of up to ₦5 million.Withdrawals exceeding these limits will attract excess charges of 3% for individuals and 5% for corporate entities. The fees will be shared between the CBN (40%) and the financial institution (60%).
The apex bank also announced the discontinuation of the special monthly cash withdrawal waivers—₦5 million for individuals and ₦10 million for corporate bodies—stating that such exemptions were no longer appropriate.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels. With the passage of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,” the CBN stated.
The revised guidelines signal a new phase in Nigeria’s ongoing transition towards a more efficient, technology-driven payment ecosystem.
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