CBN REVISED CASH WITHDRAWAL AND DEPOSIT POLICY
This is a recent updates to cash-related policies introduced by the Central Bank of Nigeria (CBN). These updates are part of the Bank’s ongoing efforts to improve cash management, enhance security, and encourage wider use of electronic payment channels for greater convenience and safety.
The revised policies will take effect from January 1, 2026 and will apply nationwide.
Key Updates
- No Limit on Cash Deposits: There will no longer be a cumulative cash deposit limit. All fees on excess cash deposits have also been removed.
2.Weekly Cash Withdrawal Limits;
**Individuals: ₦500,000 per week. Withdrawals above this limit will attracts a fee of 3% of the excess amount.
**Corporate customers: ₦5,000,000 per week. Withdrawals above this limit will attract a fee of 5% of the excess amount.
3.Special Cash Withdrawal Approvals Discontinued: The previous special approvals that allowed higher monthly withdrawals will no longer apply.
4. ATM Cash Withdrawal Limits
**#100,000 daily per customer
**Maximum of ₦500,000 weekly
**ATM and POS cash withdrawals count toward the weekly withdrawal limit.
5.Third-Party Cheque Encashment: Over-the-counter encashment of third-party cheques remains capped at ₦100,000 and counts toward your weekly withdrawal limit.
The revised policies will take effect from January 1, 2026 and will apply nationwide.