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The short answer
As at October 2026, the CBN's cash withdrawal limit is ₦500,000 a week for individuals and ₦5 million a week for corporate customers, across all channels, under a circular dated 2 December 2025 that took effect on 1 January 2026. Withdrawals above the limit attract a charge of 3% of the excess for individuals and 5% for companies, and ATM withdrawals are capped at ₦100,000 a day and count towards the weekly limit.
Cash limits have changed several times since the cashless policy began, and old figures still circulate on social media. The rules below are those reported from the CBN circular issued on 2 December 2025, signed by the Director of Financial Policy and Regulation and effective from 1 January 2026. Check with your bank before planning a large cash withdrawal, as the CBN can revise these again.
The limits at a glance (as at October 2026)
| Rule | Individuals | Corporate customers |
|---|---|---|
| Weekly cash withdrawal limit, all channels | ₦500,000 | ₦5,000,000 |
| Charge on the amount above the limit | 3% | 5% |
| ATM withdrawal cap | ₦100,000 a day, within ₦500,000 a week | ₦100,000 a day per customer, as reported |
| Third-party cheques encashed over the counter | Up to ₦100,000, counted in the weekly limit | Same |
Source: Channels Television's report of the circular, 3 December 2025. Standard Chartered Nigeria's June 2026 price guide states the same 3% charge above ₦500,000 a week for individuals and 5% above ₦5 million for corporates.
What counts towards the limit
- Cash withdrawn over the counter at a branch.
- ATM withdrawals, which the circular says count towards the cumulative weekly limit.
- Third-party cheques paid in cash over the counter.
- The limit is per customer across channels, so splitting withdrawals between the ATM and the counter does not create extra room.
The report does not say whether the limit is counted per account or across all of a customer's accounts at one bank, or how POS agent cash-outs are treated. Ask your bank, since this affects how close you are to the limit.
Who is exempt
- Revenue-generating accounts of federal, state and local governments.
- Accounts of microfinance banks and primary mortgage banks.
- Embassies, diplomatic missions and aid-donor agencies are no longer exempt; the circular withdrew their earlier exemption.
The circular also ended the earlier special authorisation that let individuals withdraw ₦5 million and companies ₦10 million once a month.
Worked examples of the excess charge
Examples only, using the rates above. Banks may add VAT or other charges; check with your bank.
| Customer | Cash withdrawn in one week | Amount above limit | Charge |
|---|---|---|---|
| Individual | ₦700,000 | ₦200,000 | 3% × ₦200,000 = ₦6,000 |
| Individual | ₦1,500,000 | ₦1,000,000 | 3% × ₦1,000,000 = ₦30,000 |
| Company | ₦6,500,000 | ₦1,500,000 | 5% × ₦1,500,000 = ₦75,000 |
| Company | ₦4,800,000 | ₦0 | No excess charge |
The charge applies only to the part above the limit. An individual who withdraws ₦500,000 exactly pays no excess charge.
Where the charge goes, and what banks must report
The reported circular says the excess charges are shared between the CBN and the financial institutions (the split was not in the report), and that banks must keep the charges in separate accounts. Deposit money banks must send monthly reports to the CBN on cash withdrawals above the limits and on cash deposits. The CBN said the aims were to cut cash management costs, improve security and reduce money laundering risks. All denominations may now be loaded into ATMs.
Old figures you may still see
Earlier versions of the cash policy had lower limits and different exemptions, and posts quoting them are still shared. Two quick tests help you spot an outdated claim:
- Does it mention a once-a-month ₦5 million or ₦10 million special withdrawal? That authorisation ended under the December 2025 circular.
- Does it say embassies or donor agencies are exempt? That exemption was withdrawn in the same circular.
- Is it dated before December 2025? Then it predates the rules now in force.
The most reliable sources are the CBN's own circulars and your bank's current tariff. A bank's published price guide, like the Standard Chartered Nigeria guide dated June 2026, is a useful cross-check because it has to match what the bank actually deducts.
If you run a cash-heavy business
Traders, transport operators and event businesses often need cash to pay people who do not take transfers. The 5% corporate excess charge applies to the amount above ₦5 million in a week, so a business withdrawing ₦5.2 million pays 5% of ₦200,000, which is ₦10,000 (example only). Keeping records of why cash was needed, and moving regular payees to transfers where they accept them, reduces both the charge and the security risk of carrying cash.
Planning around the limit
- Spread large cash needs across weeks where you can.
- Pay suppliers and staff by transfer; stamp duty of ₦50 applies on transfers of ₦10,000 or more, which is usually far below the 3% or 5% excess charge. See stamp duty on transfers.
- For businesses taking payment, transfer-based checkout reduces the cash you need to handle; see bank transfer checkout.
- Keep receipts of excess charges; if a charge looks wrong, complain to your bank first.
Where Pryme fits
Businesses that move from cash to transfers can take payment through Pryme's bank-transfer checkout, free of charge, and pay out with bulk payouts. This does not change the CBN cash rules; it reduces how often you need cash.
Questions people ask
What is the CBN weekly cash withdrawal limit in 2026?
As at October 2026, ₦500,000 a week for individuals and ₦5 million for corporate customers, across all channels, under the circular effective 1 January 2026.
How much is charged if I withdraw above ₦500,000?
3% of the amount above ₦500,000 for individuals. For example, withdrawing ₦700,000 in a week means 3% of ₦200,000, which is ₦6,000.
What is the daily ATM withdrawal limit in Nigeria?
₦100,000 a day per customer, with ATM withdrawals counted towards the ₦500,000 weekly limit, as reported from the December 2025 circular.
Are microfinance banks exempt from the cash withdrawal limit?
The circular exempts accounts of microfinance banks and primary mortgage banks, and government revenue accounts. Embassy exemptions were withdrawn.
Sources
- Channels Television: CBN revises cash withdrawal rules effective January 2026 (3 December 2025) · accessed Oct 2026
- Standard Chartered Nigeria: Service Fees and Price Guide (June 2026) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 January 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.