The CBN’s removal of deposit limits and new weekly withdrawal caps has elicited mixed responses from financial experts and PoS operators, balancing relief for cash-heavy users against concerns about undermining cashless-economy efforts.
The Central Bank of Nigeria (CBN) has unveiled revised cash-management regulations effective January 1, 2026, lifting all restrictions on cash deposits and setting weekly withdrawal caps of ₦500,000 for individuals and ₦5 million for corporate entities.
Reactions from industry experts and Point-of-Sale (PoS) operators have been mixed: some praised the move as a relief for cash-heavy businesses, while others warned it could hinder the nation’s shift toward a cashless economy.