CBN removes limit on cash deposit, raises weekly withdrawal limit

By Babajide Komolafe, Economy EditorThe Central Bank of Nigeria, CBN, yesterday removed the limit on cash deposit and raised the weekly cash withdrawal limits across all channels to N500,000 from N100,000.The apex bank disclosed this in a circular to all banks titled, “Revised Cash-Related Policies”, signed by Dr. Rita Sike, Director, Financial Policy & Regulation Department.The circular stated: “Effective January 1, 2026, the following cash-related policies, which ar