By: Goodluck E. Adubazi, Abuja.

In a sweeping overhaul of Nigeria’s cash-handling framework, the Central Bank of Nigeria (CBN) has issued fresh nationwide withdrawal limits while eliminating the long-standing cap on cash deposits, marking one of the most significant policy shifts in recent years.

In a circular dated December 2, 2025, and signed by the Director of Financial Policy & Regulation, Dr. Rita I. Sike, the apex bank said the revised rules were introduced to curb the escalating cost of managing physical currency, strengthen cash-movement security nationwide, and counter money-laundering vulnerabilities in an economy still largely dependent on cash transactions.

According to the CBN, previous cash policies were designed for evolving economic conditions, but prevailing realities now require “bold adjustments” to ensure stability, efficiency, and compliance within the financial system.

Deposit Limit Scrapped

One of the most consequential changes is the complete removal of the cumulative deposit limit. Banks are now barred from imposing charges on customers who deposit amounts exceeding earlier thresholds. The CBN says this reform will incentivize individuals and businesses to lodge more cash in the banking system, ultimately boosting overall liquidity.

New Withdrawal Caps

Under the new framework, individuals across the country are now restricted to a maximum cumulative withdrawal of ₦500,000 per week, applicable across all channels—ATM, POS, and over-the-counter.
Corporate customers, meanwhile, are allotted a higher ceiling of ₦5 million weekly.

The announcement has already begun stirring reactions across the financial sector, with analysts noting that the revised limits could accelerate Nigeria’s transition toward digital payments, even as citizens and businesses adjust to the new cash-flow reality.