The Central Bank of Nigeria (CBN) has announced major changes to its cash transaction regulations, scrapping cumulative cash deposit limits and adjusting withdrawal thresholds across all banking channels.

The new policy takes effect on January 1, 2026.

In a circular issued to financial institutions, the apex bank confirmed that the cumulative cash deposit limit has been fully removed, and the charges previously applied to deposits exceeding set limits have been discontinued.

However, the regulator reviewed upward the weekly cash withdrawal limits. Individuals may now withdraw up to N500,000 weekly, while corporate organisations are allowed up to N5 million. Withdrawals exceeding these limits will attract excess-withdrawal charges as outlined in the circular.

The CBN also abolished the special monthly waiver that permitted one-off withdrawals of N5 million for individuals and N10 million for corporate bodies.

For Automated Teller Machine (ATM) transactions, the daily withdrawal limit remains N100,000 per customer, with a maximum of N500,000 weekly. These ATM withdrawals form part of the overall withdrawal limits applicable across all channels, including point-of-sale (POS) terminals.

According to the circular, withdrawals above the approved limits will attract a 3% charge for individuals and 5% for corporate entities, shared in a 40:60 ratio between the CBN and the respective financial institution.

The CBN said the revised measures are aimed at strengthening the efficiency of the financial system while ensuring a balanced cash-management framework across the country.