CBN Introduces New Cash Withdrawal Limits, Imposes Charges on Excess Withdrawals from January 2026
3rd January 2026
The Central Bank of Nigeria (CBN) has announced revised cash withdrawal limits for individuals and businesses as part of its ongoing cashless policy, with the new rules set to take effect from January 1, 2026.
Under the updated guidelines, retail (individual) customers will be allowed a weekly cumulative cash withdrawal limit of ₦500,000 across Automated Teller Machines (ATM), Point of Sale (POS) terminals, and over-the-counter transactions at bank branches. Daily withdrawals via ATM and POS have been capped at ₦100,000. Any withdrawal above the ₦500,000 weekly limit will attract an excess cash processing charge of 3 percent on the amount exceeding the threshold.
For corporate (business) customers, the CBN set a weekly cumulative withdrawal limit of ₦5,000,000. Withdrawals beyond this limit will incur a 5 percent processing charge on the excess amount.
The apex bank also introduced additional regulatory controls, including a ₦100,000 daily ATM withdrawal limit and a ₦100,000 cap on third-party cheque encashment.
According to the CBN, the measures are aimed at promoting electronic transactions, reducing the volume of physical cash in circulation, and strengthening the efficiency of Nigeria’s payment system.
