The Central Bank of Nigeria has removed all cash-deposit limits for bank customers while maintaining strict weekly withdrawal ceilings under a revised set of cash-related policies that take effect on January 1, 2026.
The changes were announced in a circular issued on Tuesday and signed by the Director, Financial Policy and Regulation Department, Dr Rita Sike. The apex bank said the new framework was introduced “to reflect present-day realities” after years of adjustments to cash-management rules.
A key provision of the circular is the full abolition of the cumulative deposit limit. The CBN stated that “the cumulative deposit limit is hereby removed and the fee for excess deposit shall no longer apply,” ending the requirement for customers to pay charges when depositing cash above a set threshold.