How much cash can you withdraw in Nigeria in 2026?
Since January 1, 2026, individuals can withdraw up to N500,000 per week and companies N5 million across all channels. Amounts above the limit carry a 3% or 5% fee, ATM withdrawals are capped at N100,000 per day, and deposit limits have been removed, as Channels TV reports.
In detail
Since January 1, 2026, individuals in Nigeria can withdraw up to N500,000 per week and companies N5 million across all channels. Amounts above the limit carry a fee of 3% for individuals and 5% for companies. ATM withdrawals are capped at N100,000 per day. The rules come from a Central Bank of Nigeria circular issued on December 2, 2025.
Deposits are no longer limited
The CBN's cashless policy now limits withdrawals rather than deposits, and deposit limits were removed.
Where Nigerians get cash
Much cash is withdrawn at POS agents rather than bank branches. POS terminals processed N18.78 trillion in the first quarter of 2026, and ATMs handled 1.66 billion transactions in 2025.
The policy goal
Under its Payments System Vision 2028, the CBN wants cash outside the banking system below 40% of currency in circulation, and more than 10 million QR and tap-to-pay acceptance points.
What it means for payment operators
Withdrawal limits push more spending onto transfers, POS and fintech apps. For operators serving Nigerian merchants, that strengthens the case for pay with transfer, POS acceptance and QR, connected through local providers and activated per merchant.