Tekedia Forum

Forum Navigation
Please or Register to create posts and topics.

Central Bank of Nigeria Cash Withdrawal Limits

The Central Bank of Nigeria (CBN), further to the launch of the new Naira notes has recently revised cash withdrawal limits. This takes effect soon.

Please see the details below:

The maximum weekly cash withdrawal limit across all channels by individuals and corporate organisations will be N500,000 and N5,000,000 respectively
For compelling situations, when cash withdrawals above the prescribed limit are required for legitimate reasons, such requests will be subject to a processing fee of 3% and 5% for individuals and organisations respectively. This is in addition to further requirements as contained in the policy
Third-party checks above N100,000 will not be eligible for payment over the counter, while the extant limit of N10 million on clearing cheques still subsists

source: FCMB

  • Join Tekedia Capital Syndicate which begins April 8, 2023, and own a piece of Africa’s finest startups. Learn more on this one page.
  • Tekedia Mini-MBA (June 5 – Sept 2 2023) opens NEW registrations; beat early birds for discounts by registering here.