CBN Announces New ATM Withdrawal Limits Effective January 2026

The Central Bank of Nigeria has introduced new cash withdrawal regulations, officially discontinuing the special authorisation that previously allowed individuals to withdraw N5 million and corporate bodies N10 million once a month.

The policy update was contained in a circular issued on Tuesday, December 2, 2025, and signed by the Director of Financial Policy & Regulation Department, Dr. Rita I. Sike, who explained that earlier cash policies were designed to suit evolving economic conditions.

According to the apex bank, the revisions became necessary to streamline cash management rules, reduce operational costs, strengthen security, and minimise money laundering risks associated with excessive reliance on physical currency.

The CBN noted that the updated cash withdrawal framework seeks to encourage wider adoption of electronic payment channels while ensuring financial practices reflect the realities of the modern Nigerian economy.

Under the new guidelines, individuals are limited to N500,000 per week and corporates to N5 million, with excess withdrawals attracting 3% and 5% processing fees respectively, to be shared between banks and the CBN.

“These policies were introduced over the years in response to evolving cash-management demands, but with time, the need arose to streamline them to reflect present-day realities. The revised limits are intended to curb misuse, improve financial integrity, and gradually reduce dependence on physical cash across the economy,” the circular stated.

“Daily ATM withdrawals are now capped at N100,000, with a maximum of N500,000 weekly, and these count towards customers’ overall weekly limits. The previous special authorisation for N5 million and N10 million monthly withdrawals has been discontinued, as the banking system transitions toward safer, more efficient digital channels,” it added.

The CBN further directed Deposit Money Banks to submit monthly reports on withdrawals and deposits exceeding stipulated thresholds, maintain dedicated accounts for excess-withdrawal fees, and ensure compliance across all agent-banking operations, including the new N1.2 million daily limit for POS agents.