The Central Bank of Nigeria has unveiled sweeping adjustments to its cash-handling regulations, introducing fresh withdrawal limits while eliminating all restrictions on cash deposits across the country.
A circular dated December 2, 2025, and endorsed by the Director of Financial Policy and Regulation, Dr. Rita I. Sike, explained that the changes were aimed at cutting the rising cost of managing physical cash, improving security around currency movement, and addressing money-laundering vulnerabilities in an economy still dependent on cash transactions.
The apex bank noted that previous cash policies were designed to address evolving economic conditions, adding that the new review was necessary to align with current financial realities.
One of the major changes is the removal of the cumulative cash deposit limit. With this, customers can now deposit any amount without facing the charges that previously applied to deposits above set thresholds. The bank believes this step will encourage greater inflow of cash into the formal banking system and boost liquidity.
In contrast, the CBN has introduced stricter withdrawal controls. Individuals may now access a total of ₦500,000 weekly across all platforms—ATMs, POS terminals, and over-the-counter transactions—while corporate entities can withdraw up to ₦5 million within the same period.
Any withdrawal beyond these limits will attract charges of 3 per cent for individuals and 5 per cent for corporate organisations, with the fees to be split between the CBN and the customer’s bank.
The bank also announced the end of the special monthly cash-withdrawal waivers, which previously allowed individuals and companies to withdraw ₦5 million and ₦10 million, respectively, without penalty.
“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.
