‘EMPTY BARRELS’ – OTTI DISMISSES UZOR KALU, ORJI, IKPEAZU OPPOSITION GANG-UP. (PHOTO)

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 ‘Empty barrels’ – Otti dismisses Uzor Kalu, Orji, Ikpeazu opposition gang-up Abia State Governor, Alex Otti, has urged Abians to disregard recent remarks by some leaders of the opposition in the state. Governor Otti who was speaking on Saturday at Seventh-Day Adventist Church, Umuoriehi, Umuahia North LGA, during the dedication of the church building, said that those who are gathering against him were the same people that failed to develop the state in the past. Otti was reacting to an alliance formed against his re-election by former Abia governors Orji Uzor Kalu, Theodore Orji and Okezie Ikpeazu. The governor slammed the opposition members for pursuing personal interest above the collective development of Abia, declaring that every gathering they are making against him would collapse. He said, “Pastor Uguru made reference to the noise that you may have been hearing in the last few days. “I want us to just dismiss it as noise, you know, and it’s always the empty barrel that makes...
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CBN RAISES CASH WITHDRAWAL LIMITS, SCRAPS DEPOSIT CAPS IN MAJOR POLICY SHIFT. (PHOTOS). #PRESS RELEASE.

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 CBN Raises Cash Withdrawal Limits, Scraps Deposit Caps in Major Policy Shift

The Central Bank of Nigeria (CBN) has announced a significant relaxation of its cash withdrawal and deposit regulations, effective January 1, 2026, in a move aimed at improving liquidity and easing the burden on businesses and individuals amid prevailing economic challenges.

In a circular signed by Dr. Rita I. Sike, Director of the Financial Policy and Regulation Department, the apex bank raised the weekly cash withdrawal limit for individuals from ₦100,000 to ₦500,000 across all channels, including ATMs, Point-of-Sale (POS) terminals, and over-the-counter transactions. Corporate entities will now enjoy a higher weekly limit of ₦5 million, up from the previous ₦500,000.

At the same time, all restrictions and processing fees on cash deposits have been completely removed, allowing unrestricted deposits without penalties.

Key Changes Effective January 1, 2026

Weekly cash withdrawal (Individuals)

₦100,000 (all channels)

₦500,000 (all channels)

Weekly cash withdrawal (Corporates)

₦500,000 (all channels)

₦5 million (all channels)

Daily ATM withdrawal

₦20,000 – ₦40,000 (bank-dependent)

Up to ₦100,000 (counts toward weekly limit)

Cash deposits

Caps applied; fees on excess

No limits, no fees

Third-party cheque withdrawals

₦100,000

Remains ₦100,000 (counts toward weekly limit)

Charges on excess withdrawals

Strict enforcement

3% (individuals), 5% (corporates); revenue shared 40% CBN, 60% banks

Special authorisations for large withdrawals

₦5m (individuals)/₦10m (corporates) monthly

Completely discontinued

ATM currency loading

Restricted denominations

All denominations permitted

The CBN stated that the revisions are intended to address current economic realities, including high inflation and liquidity constraints, while maintaining the broader goal of reducing cash dominance in the economy. The policy builds on the 2022-naira redesign and cash-limit framework, which was originally introduced to curb cash hoarding and money laundering.

Banks are now required to submit monthly reports to the CBN on all withdrawals above the new limits and on cash deposit patterns.

More photos below. 




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