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NEWS“From Next Year, Only N200 Notes & Below Will be Loaded In ATM” – CBN Sets N20k per Day at POS, N100k per Week From Banks

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The Central Bank Of Nigeria (CBN) has announced a strict naira control order starting from January 9, 2023.



According to CBN;

“Only denominations of N200 and below shall be loaded into the ATMs”

The bank also said, adding that the new policy is sequel to the launch of the redesigned N200, N500 and N1,000 notes by President Muhammadu Buhari on November 23, 2022.

The CBN further fixed daily maximum withdrawals via point of sale (PoS) terminal at N20,000.

“The maximum cash withdrawal per week via Automatic Teller Machine (ATM) shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.

CBN memo;


Here is a quick breakdown of CBN’s cash withdrawal changes:

  • N100k – N500k limit for individuals and corporate, respectively.
  • N50k limit for 3rd party cheque.
  • N20k limit per day N200 and lower notes only in ATMs.
  • N20,000 cash withdrawal limits from POS per day.
  • Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively.



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