The Central Bank of Nigeria (CBN) has announced a significant upward review of cash withdrawal limits across all financial channels, raising weekly thresholds to N500,000 for individuals and N5 Million for corporate account holders.

The policy update, issued in a circular on Tuesday, marks a major adjustment to earlier cash-tightening measures and is expected to offer customers greater flexibility in managing cash-based transactions.

Under the revised framework, Automated Teller Machine (ATM) withdrawals are now capped at N100,000 per day, while total ATM withdrawals must not exceed the newly approved weekly limit of N500,000.

According to the apex bank, the adjustment reflects ongoing efforts to balance the nation’s evolving payment ecosystem with the practical needs of Nigerians and businesses that rely on cash for daily operations.

The CBN emphasized that, while it continues to promote digital payment channels, the updated limits aim to ensure smoother financial activities and reduce friction for cash-dependent sectors.

Banks and other financial institutions have been directed to comply immediately and ensure that customers are fully informed of the new withdrawal ceilings.