By Ghazali Ibrahim
The Central Bank of Nigeria (CBN) has removed all limits on cash deposits and increased the weekly cash withdrawal threshold for individuals to N500,000.
The announcement was made in a circular issued on December 1, 2025, titled “Revised Cash-Related Policies,” and signed by Dr. Rita Sike, Director of Financial Policy and Regulation.
Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly, while corporate organisations can access up to N5 million.
The CBN also eliminated processing fees previously charged for deposits above set limits, effectively allowing Nigerians to deposit any amount of cash without penalty.
The apex bank said the decision is part of efforts to enhance cash management, promote financial inclusion, and improve efficiency in Nigeria’s payment system. It also aims to strike a balance between cash usage and the country’s financial stability framework.
The removal of the deposit limit comes nearly two years after the controversial Naira redesign policy and cashless policy measures that imposed strict limits on cash withdrawals and deposits moves that sparked public outcry and disrupted businesses.
