The Central Bank of Nigeria (CBN) has announced new limits for agent banking operations across the country, capping daily cash-in and cash-out transactions at N100,000 per customer, and N500,000 weekly. The move is part of efforts to boost financial inclusion, reduce cash handling risks, and strengthen oversight.
According to a circular issued on October 6, 2025, the revised Agent Banking Guidelines also:
- Restrict bill payments via agents to N100,000 per day/week
- Limit agents’ total daily cash-out to N1.2 million
- Require PoS devices to be geo-fenced and linked to a dedicated account or wallet
- Enforce strict penalties for violations, including blacklisting of agents
The CBN emphasized that these steps will curb misuse, prevent money laundering, and improve consumer protection. Provisions related to agent location and exclusivity will take effect from April 1, 2026.
