CBN removes deposit ceiling and sets new weekly withdrawal limits
The Central Bank of Nigeria (CBN) has scrapped its previous cap on cumulative cash deposits and introduced revised cash withdrawal limits for individuals and corporate account holders, in a sweeping update to its cash-management policy.
Under the new regulation — outlined in a circular signed December 2, 2025, by the Director of Financial Policy & Regulation — the deposit cap is formally abolished and banks are no longer permitted to charge fees for deposits exceeding former thresholds.
On withdrawals, an individual customer may now access up to ₦500,000 per week across all channels (ATM, POS, over-the-counter), while corporate account holders may withdraw up to ₦5,000,000 weekly.
Daily ATM withdrawals are limited to ₦100,000 per customer — these withdrawals count toward the weekly total.
For cash withdrawals that exceed the weekly limits, additional charges will apply: 3% for individuals and 5% for corporates, with proceeds shared between the CBN and the bank.
Meanwhile, the special monthly withdrawal authorisation previously allowing up to ₦5 million for individuals and ₦10 million for corporates has been discontinued.
The CBN said the overhaul reflects current economic realities and aims to reduce the rising cost of cash management, bolster security around cash movement, and curb money-laundering risks.
By removing deposit constraints and relaxing withdrawal limits, the bank seeks to enhance liquidity in the financial system and encourage continued adoption of electronic payment channels.
For ordinary Nigerians — including everyday consumers, small businesses, and informal-sector operators — the changes could ease liquidity challenges and improve access to cash, particularly ahead of the 2026 effective date.
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