CBN Removes Cash Deposit Limits, Raises Withdrawal Thresholds Ahead Of 2026

By FIDELUS ZWANSON

IN a major policy shift, the Central Bank of Nigeria (CBN) has lifted all cash deposit limits and increased weekly withdrawal thresholds for individuals and businesses, effective 1st January 2026. The move aims to ease liquidity constraints, reduce transaction delays, and restore confidence among cash-dependent consumers and businesses.

Under the new rules, individuals can withdraw up to ₦500,000 weekly, while corporate entities can access ₦5 million. Excess withdrawals will incur a 3–5% fee, shared between banks and the CBN. Previous special approvals for higher withdrawals have been removed.

ATM withdrawals are capped at ₦100,000 daily, with a weekly maximum of ₦500,000, while all machines can now dispense all denominations. Cheque encashment limits remain at ₦100,000. Revenue accounts for governments, microfinance, and primary mortgage banks are exempt, but diplomatic exemptions have been withdrawn.

The reforms are expected to benefit small traders, SMEs, and cash-intensive sectors, while maintaining oversight through reporting requirements and surcharges. Analysts describe the move as a pragmatic balance between operational flexibility and cash flow discipline, signaling a more responsive, modern approach to Nigeria’s cash economy as 2026 approaches.