The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, effective January 2026. The newly revised rules end a previous special authorisation permitting individuals to withdraw ₦5 million and corporates ₦10 million 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.
“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 effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,” the CBN stated.
Effective January 1, 2026, individuals will be allowed to withdraw up to ₦500,000 weekly across all channels, while corporate entities will be limited to ₦5 million. 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.
Daily withdrawals from Automated Teller Machines (ATMs) will be capped at ₦100,000 per customer, with a maximum of ₦500,000 per week. These transactions will count toward the cumulative weekly withdrawal limit.
