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Summary Of CBN Revised Cash Withdrawal Limit Effective January 9

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Below is the summary of the new cash withdrawal policy of the Central Bank of Nigeria (CBN) which takes effect on January 9, 2023:

  1. Individual can withdraw cash across the counter and ATM of 20k per day and 100k per week.
  2. Corporate account can withdraw cash over the counter(No Atm withdrawal for corporate withdrawal) of 100k per day and 500k per week.
  3. Both individuals and corporate body can do the maximum weekly withdrawal once.
  4. Third party cheque for cash payment across the counter is maximum of N50,000.
  5. Any cash withdrawals exceeding the individual and corporate account limit above will attract processing fees of 5% and 10% respectively.
  6. Maximum cash withdrawal on the ATM is N100,000 per week subject to N20,000 per day.
  7. The existing and current maximum amount of N10,000,000 for cheques via clearing still subsist.
  8. Only cash denominations of N200 and below shall be loaded in the ATM.
  9. Maximum cash withdrawal via POS terminal shall be N20,000 daily.
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