2022-12-20 | CCD 21B DEC 2022

RE: Naira Redesign Policy - Revised Cash Withdrawal Limits

The Central Bank of Nigeria has issued a circular to financial institutions, revising cash withdrawal limits for individuals and corporate organizations. The new weekly limits are N500,000 and N5,000,000, respectively, with processing fees for withdrawals above these amounts. The CBN emphasizes the importance of bank and mobile money agents in providing access to financial services in underserved and rural communities and commits to an inclusive approach as it transitions to a more cashless society.

Nigeria

Central Bank of Nigeria

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