The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, effective January 2026.
The newly revised rules end a previous special authorisation permitting individuals to withdraw ₦5 million and corporates ₦10 million once monthly.
The apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
In a circular released on Tuesday, December 2, 2025, and signed by the Director of the Financial Policy & Regulation Department, Dr. Rita I. Sike, the policy is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.