The Central Bank of Nigeria CBN has announced a major overhaul of its cash-related policies. Introducing new withdrawal limits and removing the cumulative cash deposit cap for all customers. A circular signed by Dr. Rita I. Sike, Director of the Financial Policy and Regulation Department, confirmed the changes on December 2, 2025.
The apex bank explained that the revisions were necessary to reduce rising cash management costs and improve security around cash movement. It added that the update also aims to limit money-laundering risks in an economy where physical cash still plays a significant role. Earlier policies had been introduced to address shifting economic pressures. But the CBN said current realities now demand a fresh approach.
Under the new rules, the previous deposit limit has been completely abolished. Banks will no longer charge customers fees for deposits that exceed old thresholds, a move expected to encourage higher cash inflows into the system and boost overall liquidity.
The revised withdrawal framework now allows individuals to access a total of ₦500,000 weekly across ATMs, POS terminals and over-the-counter channels. Corporate customers may withdraw up to ₦5 million weekly under the same conditions. Any withdrawal above these limits will attract excess charges of 3% for individuals and 5% for businesses. These fees will be shared between the CBN and the banks.
The regulator also cancelled the special monthly cash-withdrawal waivers of ₦5 million for individuals and ₦10 million for corporates. According to the bank, the removal of these exemptions will help streamline its policies. Also ensure they align with today’s operational realities.
