Abuja, Dec. 3, 2025 – The Central Bank of Nigeria (CBN) has reviewed cash withdrawal rules from bank from January 2026.
The apex bank announced the new rules through a circular released on Tuesday, December 2, 2025, and signed by Dr. Rita I. Sike, the CBN Director of the Financial Policy & Regulation Department.
It said the new rules were 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 bank said.
The circular said under the new rules, the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly has been discontinued.
It said effective January 1, 2026, individuals would be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 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 N100,000 per customer, subject to a maximum of N500,000 weekly.
These transactions will count toward the cumulative weekly withdrawal limit.
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 N100,000.
Such withdrawals will also form part of the weekly withdrawal limit.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
The CBN, however, said revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
It said exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
