CBN Releases New Cash Withdrawal Limits Per Week …N100k For Individuals And N500k For Corporate Organization

The maximum cash withdrawal over the counter by individuals and corporate organisations per week shall henceforth be N100k and N500k respectively. Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively.

CBN New Currency Policy Effective January 9, 2023

Daily ATM withdrawal: #20,000

Daily POS Withdrawal: #20,000
Above #20,000: Must be done electronically

Weekly Withdrawal Limit: #100,000

Highest Denomination to be dispensed by ATM: #200 notes.

Maximum withdrawal at the Counter weekly: (Individual) #100,000

Maximum withdrawal at the Counter weekly (Corporate Organization) #500,000

Processing Fees for withdrawal above limit

(a) Individual: 5% Processing Fee

(b) Corporate Organization: 10% Processing Fee

3rd Party Cheque above #50,000 not eligible for payment above the counter

Haruna B. Mustafa
Director Banking Supervision
Central Bank of Nigeria.