The Central Bank of Nigeria (CBN) has overhauled its cash management policies, removing the cumulative deposit cap and introducing new withdrawal limits for individuals and corporate account holders. The announcement was made in a circular signed by Dr. Rita I. Sike, Director of the Financial Policy & Regulation Department, on December 2, 2025.
The apex bank said the policy update aims to reduce the cost of cash handling, enhance security around cash movement, and curb money laundering risks in Nigeria’s cash-intensive economy. The previous rules were initially implemented to manage evolving economic conditions.
Under the revised framework, individual account holders can now withdraw up to ₦500,000 per week across all channels, including ATMs, POS terminals, and over-the-counter transactions. Corporate accounts are permitted a cumulative weekly withdrawal of ₦5 million.
Withdrawals exceeding these limits will incur fees: 3% for individuals and 5% for corporates. The collected charges will be shared between the CBN (40%) and the financial institution (60%). The special monthly cash withdrawal waivers of ₦5 million for individuals and ₦10 million for corporates have also been discontinued.
The removal of the cumulative deposit cap means banks will no longer charge customers fees for deposits exceeding previously set thresholds. The move is expected to encourage higher deposits and improve liquidity across the financial system.
CBN emphasized that these adjustments are designed to reflect current economic realities and promote wider adoption of electronic payment channels. “The need has arisen to streamline the provisions of these policies to reflect present-day realities,” the bank said.
The new policy framework marks a significant shift in Nigeria’s cash handling approach, balancing financial security, cost-efficiency, and convenience for both individuals and corporate entities. Banks and customers are advised to adhere strictly to the new limits to avoid penalties.
