Nairobi, Kenya – Nigeria dey make big change for di way e go take handle cash. As e be, di Central Bank of Nigeria (CBN) don announce say from January 1, 2026, Nigerians go fit withdraw up to ₦100,000 every day from ATM, and dem fit gather up to ₦500,000 for di week. Chai! Money dey come small small like palm wine, but we dey happy we go fit take go market again.
Di new policy affect those wey dey use Point of Sale (POS) too, so if you dey withdraw cash or use POS to buy nkwobi, dem go count your withdrawals as one. (Na so dem dey catch you, abeg, no run am for padi!) And for corporate people, e boku well well, because dem fit withdraw up to ₦5 million every week. Na wah!
Dis policy na response to di rising cost of cash management, security wahala, and di potential for money laundering wey dey follow heavy cash usage. According to CBN, dem don revise dia withdrawals and deposit policies, make am fit match di modern way wey people dey do biz. Dem even cancel di previous requirement wey say if you wan withdraw anything over ₦5 million, you go need special approval (as if money no dey run for di country!).
Now, make you sabi say if you wan withdraw pass dis new weekly limit, like say you want buy new whip, you go dey pay extra fee for di excess. For individuals, na 3% of di excess dey go, and for corporate organizations, na 5%. So, if you no calculate well, e fit pain your pocket well-well!
Di CBN also tok say, if you dey go banking hall to collect cash, e still go enter your withdrawals for di week. If you go don carry ₦100,000 from bank, na only ₦400,000 remain to withdraw from ATM before dem go start to charge you. So, make you plan well so your money no go disappear like magic!
Dem write am for one circular wey Dr. Rita Sike wey be di Director of di Financial Policy and Regulation Department sign. E show say dem wan encourage people to dey use e-payment channels, but as we sabi, Nigerian no dey fit trust e-payment like dem dey trust cash (cash wey dey show for hand). Dem dey try to push us into di digital age, but we all know say na security and network wahala dey hold us back sometimes.
Well, na so e be now – cash limit don change, and we go see how people go dey conduct biz and manage their money. Make everybody jettison any plan wey go make dem lose extra cash. Nigeria still dey come up and e dey clear say we go need to adapt or lie down for ground. Na big news dis, abeg no forget to tell your padi dem!
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