The Central Bank of Nigeria has revised its cash withdrawal rules, effective January 2026.
The newly revised rules end a previous special authorisation permitting individuals to withdraw Five million naira and corporate organizations ten million naira once monthly.
The apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
In a circular released on Tuesday, December 2, 2025, and signed by the Director of the Financial Policy & Regulation Department, Dr. Rita I. Sike, the policy is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.
Effective January 1, 2026, individuals will be allowed to withdraw up to Five Hundred Thousand Naira weekly across all channels, while corporate entities will be limited to Five million Naira.
Withdrawals above these thresholds will attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
The CBN also confirmed that all currency denominations may now be loaded in ATMs, while the over-the-counter encashment limit for third-party cheques remains at One Hundred Thousand Naira.
Such withdrawals will also form part of the weekly withdrawal limit.
