RECORDING ACADEMY ADDS FIVE NEW GRAMMY CATEGORIES, UPDATES RULES FOR 2026 AWARDS. (PHOTO).

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 Recording Academy adds five new Grammy categories, updates rules for 2026 awards NEW YORK - The Recording Academy is introducing five new categories and making several rule changes for the 2026 Grammy Awards in an effort to reflect the evolving global music landscape. Among the new additions is a best Asian pop music performance category, which will honor performances across genres such as K-pop, J-pop, C-pop and other Asian pop styles, with the award going to performers. A new best traditional pop vocal performance category will recognize artists whose work does not fit within modern pop styles. A best Latin song category will spotlight songwriters for Spanish-language Latin recordings. Changes are also coming to existing categories in R&B and folk music. The academy is adding a best R&B collaboration or duo/group performance category alongside a revised best R&B solo performance award. In folk, the best folk album category will be split into best contemporary folk al...
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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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