CBN Revises Cash Withdrawal Rules Effective January 2026

The Central Bank of Nigeria (CBN) has announced a revision to its cash withdrawal rules, effective January 2026. The new rules aim to reduce cash management costs, enhance security, and mitigate money laundering risks.

Individuals will be allowed to withdraw up to ₦500,000 per week across channels, while corporations can withdraw up to ₦5 million monthly, with excess withdrawal fees of three percent for individuals and five percent for corporations. The CBN also introduced limits on daily ATM withdrawals and mandated monthly reporting for cash withdrawals exceeding specified limits.

The policy exempts certain entities from the new limits and fees.