{"id":79694,"date":"2025-12-04T18:16:27","date_gmt":"2025-12-04T18:16:27","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=79694"},"modified":"2025-12-04T18:16:27","modified_gmt":"2025-12-04T18:16:27","slug":"cbn-removes-cash-deposit-limits-raises-weekly-withdrawal-allowances","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/12\/04\/cbn-removes-cash-deposit-limits-raises-weekly-withdrawal-allowances\/","title":{"rendered":"CBN Removes Cash Deposit Limits, Raises Weekly Withdrawal Allowances"},"content":{"rendered":"<p><strong>By Adenike Lawal<\/strong><\/p>\n<p>The Central Bank of Nigeria (CBN), has scrapped restrictions on cash deposits and increased weekly withdrawal limits for individuals and businesses, effective January 1, 2026.<\/p>\n<p>The new rules, issued in a circular titled \u201cRevised Cash-Related Policies\u201d and signed by Dr. Rita Sike, eliminate the cumulative cash deposit limit and the charges previously applied for exceeding it.<\/p>\n<p>Under the revised policy, individuals may now withdraw up to \u20a61.5 million weekly, while corporate bodies can access \u20a65 million.<\/p>\n<p>Withdrawals above these thresholds will attract excess withdrawal fees as approved by the CBN.<\/p>\n<p>The apex bank also abolished the special monthly approval that allowed individuals and companies to withdraw \u20a65 million and \u20a610 million, respectively.<\/p>\n<p>ATM withdrawal limits have been expanded to \u20a6100,000 daily and \u20a6500,000 weekly, which count toward the overall weekly withdrawal cap.<\/p>\n<p>All denominations of the naira may now be loaded into ATMs.<\/p>\n<p>Excess cash withdrawals will attract charges of 3% for individuals and 5% for companies, shared between the CBN and the servicing bank.<\/p>\n<p>The CBN retained the \u20a6100,000 over-the-counter limit for third-party cheque encashment, which will also count toward weekly withdrawal totals.<\/p>\n<p>Government revenue accounts and some financial institutions are exempt from specific provisions, but embassies, diplomatic missions, and donor agencies will no longer enjoy previous waivers.<\/p>\n<p>According to the CBN, the reforms aim to curb cash-management costs, strengthen security, and reduce money-laundering risks as electronic payment usage continues to grow nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adenike Lawal The Central Bank of Nigeria (CBN), has scrapped restrictions on cash deposits and increased weekly withdrawal limits for individuals and businesses, effective January 1, 2026. The new rules, issued in a circular titled \u201cRevised Cash-Related Policies\u201d and signed by Dr. Rita Sike, eliminate the cumulative cash deposit limit and the charges previously [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":79695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,173,172],"tags":[],"class_list":["post-79694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports","category-business","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/79694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=79694"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/79694\/revisions"}],"predecessor-version":[{"id":79696,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/79694\/revisions\/79696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/79695"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=79694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=79694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=79694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}