Nigeria’s financial system is set for another major policy shift as the Central Bank of Nigeria (CBN) has introduced fresh withdrawal limits and removed the cumulative cash deposit ceiling for all bank customers.
The latest guidelines, released in a circular dated December 2, 2025 and signed by Dr. Rita I. Sike, Director of Financial Policy and Regulation, mark a broad restructuring of the nation’s cash management framework.
According to the apex bank, the adjustment became necessary to reduce the high cost of handling physical cash and to improve security around cash movement in an economy where cash usage remains significant.
The CBN explained that previous rules were designed to suit emerging conditions at the time, but current economic realities require a more streamlined approach to managing cash-based transactions.
Under the new directive, the long-standing cumulative cash deposit limit has now been scrapped, meaning commercial banks can no longer impose charges on customers who deposit beyond earlier thresholds. The measure is expected to boost deposit inflows and improve liquidity within the banking sector.
In revising withdrawal rules, the CBN set a weekly cumulative limit of ₦500,000 for individual customers across ATMs, POS terminals and banking halls, while corporate account holders may withdraw up to ₦5 million weekly.
Any withdrawal above the approved limits will attract an excess charge of 3 per cent for individuals and 5 per cent for corporates. The fees will be shared between the CBN and the deposit money banks on a 40–60 per cent basis.
The apex bank further confirmed that the special monthly waivers of ₦5 million for individuals and ₦10 million for corporate entities have been cancelled and will no longer apply under the revised framework.
In explaining the review, the CBN noted that earlier cash policies were introduced to promote electronic payments and reduce reliance on physical cash, but the passage of time has made it necessary to harmonise those provisions.
The bank emphasised that the new measures are designed to reflect current realities and enhance efficiency in cash management across the country.
