2025-12-02 | FPRD/DIR/PUB/CIR/001/011

Circular to All Banks, Other Financial Institution and the General Public: Revised Cash-Related Policies

The Central Bank of Nigeria has announced revisions to its cash-related policies, effective January 1, 2026. These changes aim to moderate cash management costs, address security concerns, and reduce money laundering risks. Key updates include the removal of deposit limits and associated fees, a weekly withdrawal limit of ₦500,000 for individuals and ₦5 million for corporates (with excess withdrawal fees), and the elimination of special authorization for large cash withdrawals. These policies are intended to promote the use of electronic payment channels and reflect current economic realities, while some older circulars are being superseded.

Nigeria

Central Bank of Nigeria

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