January 2026 opened with a more structured payment environment for merchants in Nigeria. The rules governing how money is received are now tighter and clearer. For businesses that understand these changes early, 2026 provides greater certainty and reduces the risk of costly disruptions.  

These measures stem from the Central Bank of Nigeria’s efforts to address security risks and limit money laundering linked to heavy cash usage. To help merchants navigate the changes, we have outlined key policies, making them easier to understand and apply in daily operations.  

Digital Payments as Standard Practice  

All payments to Federal Ministries, Departments, and Agencies are electronic. Accepted channels include: 

• Bank transfers 

• Point-of-Sale (POS) terminals 

• Approved digital payment platforms 

Each transaction generates an electronic receipt linked to government revenue systems, giving merchants clearer records, simpler reconciliation, easier tax reporting, and stronger credibility with banks. 

Cash Deposit and Withdrawal Rules  

Cash is still allowed but managed more deliberately.  

• Cash deposits remain permitted without additional charges. There is no limit on the amount.  

• Cash withdrawals are regulated across all channels, including bank counters, Automated Teller Machines (ATM), and Point-of-Sale (POS) devices.  

Cumulative weekly withdrawal limits  

• Individuals: Five hundred thousand naira (₦500,000)  

• Corporate accounts: Five million naira (₦5,000,000)  

Automated Teller Machine (ATM) withdrawal limits  

• Daily: One hundred thousand naira (₦100,000) 

• Weekly maximum: Five hundred thousand naira (₦500,000) 

Charges for exceeding limits  

• Individuals: Three percent (3%) on excess  

• Corporate accounts: Five percent (5%) on excess  

Special monthly cash withdrawal approvals no longer apply. These rules encourage the use of bank transfers, digital wallets, and POS channels.  

Point-of-Sale (POS) Operations and Location Controls 

• POS agents may process up to one million two hundred thousand naira (₦1,200,000) per day 

• Individual customers may cash out only one hundred thousand naira (₦100,000) per day 

• Every POS terminal must be registered to a fixed business location. Moving a terminal more than approximately ten meters from its registered address may automatically disable it. Accurate registration helps prevent service interruptions. 

Electronic Money Transfer Levy (EMTL) and Stamp Duty 

Electronic transfers are subject to the Electronic Money Transfer Levy (EMTL), commonly referred to as stamp duty. For transactions of ten thousand naira (₦10,000) and above, a flat charge of fifty naira (₦50) applies. 

A key change in 2026 is who bears this charge. Previously, the levy was deducted from the recipient of qualifying transfers. Under the current structure, the charge now applies to the sender of the funds. 

This means that when a customer initiates a transfer of ten thousand naira (₦10,000) or more, the sender is debited the fifty-naira (₦50) stamp duty in addition to any standard transfer fees. The receiving merchant no longer bears this cost. 

For merchants, this change improves clarity around incoming amounts and reduces unexpected deductions on received transfers. For customers, it is important to understand the full cost of initiating higher-value transfers to avoid confusion or disputes. 

Customer Expectations and Risk 

Customers now expect fast confirmation, clear transaction status, and reliable settlements. Delayed or unresolved transactions reduce trust and harm business. 

As digital transaction volumes increase, fraud risks, such as account compromise and transaction manipulation, also rise, making transaction monitoring and location consistency increasingly important. 

What This Means for Merchants 

For merchants, these changes do not have to be overwhelming. Businesses that will succeed in 2026 are those that understand the rules early and adjust gradually. 

Planning around cash withdrawal limits helps avoid surprises. Relying on digital channels makes transactions faster and more efficient. Keeping clear records reduces stress during reconciliation, tax reviews, or bank interactions. Ensuring POS terminals are properly registered and used correctly prevents unnecessary downtime. 

By following these basics and adapting to the new regulations, receiving money becomes smoother, and merchants can confidently stay in control of their businesses. Clear rules around limits, charges, and payment channels give merchants better visibility and firmer control over daily operations.