Planning a trip to Nigeria? Whether you’re exploring Lagos’ vibrant markets, hiking in the Obudu Mountains, or soaking up history in Abuja, managing your money is key to a smooth adventure. You’ve probably heard about the updated cash withdrawal rules from the Central Bank of Nigeria (CBN). They kicked in on January 1, 2026, and they’re designed to push more digital payments. Don’t worry; cash isn’t vanishing, but accessing large amounts just got a bit pricier. Here’s the straightforward scoop, tailored for globetrotters like you, no finance lingo, just practical advice to keep your travels hassle-free.

 The Quick Overview for Tourists

Cash is still king in many parts of Nigeria, especially for street food, taxis, or bargaining at local markets. But the CBN is encouraging everyone, including visitors, to go digital with transfers, apps, and cards. The nudge? Fees on big cash pulls. You can withdraw money, but overdoing it costs extra. Think of it as a gentle reminder to use your phone or card more often, which can actually make things safer and easier on the road.

 What This Means for You as a Traveller

As an international visitor, you’ll likely fall under the “individual” category. You can withdraw up to ₦500,000 (about $300–$400 USD, depending on exchange rates) per week in cash, total, across all methods. This covers:

– ATM withdrawals (handy at airports like Murtala Muhammed in Lagos)

– Point-of-Sale (POS) cash-outs at shops or hotels

– Over-the-counter pulls at bank branches

It’s all lumped together in one weekly bucket. Exceed ₦500,000? You’ll pay a 3% fee on just the extra amount, not the whole withdrawal.

Real-Life Travel Example:

– Say you need cash for a week-long safari: You withdraw ₦700,000 total (maybe ₦200,000 at the ATM for tips, plus more at a bank for souvenirs).

– Free limit: ₦500,000

– Excess: ₦200,000

– Fee: 3% of ₦200,000 = ₦6,000 (around $4–$5 USD)

That’s the cost of not planning ahead, small, but it adds up if you’re jet-setting across multiple cities.

Pro Tip: These limits track you personally via your ID or passport, even across different banks. No sneaky splitting withdrawals to game the system.

 ATM Specifics: Don’t Get Stranded

ATMs are everywhere in major cities and tourist spots, but now capped at ₦100,000 per day. That daily amount still eats into your ₦500,000 weekly total. So, if you’re pulling ₦100,000 daily for market haggling or transport, you’ll max out by day five. After that, any extra cash grab triggers the 3% fee.

Travel Hack: Check for international ATMs (like those from Stanbic IBTC or Access Bank) that accept Visa/Mastercard. But watch for your home bank’s foreign transaction fees too—double whammy!

 If You’re Travelling for Business or Groups

Running a group tour or on a corporate trip? Businesses get a bigger weekly limit of ₦5 million, with a 5% fee on anything over. If your travel involves company expenses, chat with your finance team about digital alternatives to avoid hefty charges.

Example: A tour operator withdrawing ₦7 million for group activities pays 5% on the ₦2 million excess, ₦100,000 gone, which could cover a fancy dinner instead.

 How These Limits Impact Your Trip

Nigeria’s buzzing energy is best enjoyed without money worries. Here’s what might shift:

1. Embrace Digital Payments: Apps like OPay, PalmPay, or even WhatsApp transfers are free and unlimited. Perfect for paying guides, hotels, or ride-hailing like Bolt/Uber. Many tourist spots now accept cards too.

2. Busier ATMs in Tourist Hubs: Lower daily limits could mean longer lines at popular spots like Victoria Island or Abuja’s malls. Hit them early or mid-week.

3. Fees Can Eat into Your Budget: Withdrawing ₦800,000 weekly? That’s ₦9,000 in fees per week, over a month-long trip, you’re looking at ₦36,000+ lost to penalties. Use it for souvenirs instead!

4. Rethink Cash-Heavy Activities: Markets and rural areas still love cash, but for big spends like flights or hotels, go digital to save.

5. Plan Your Itinerary Around Money: Heading to remote spots? Stock up on cash in cities, but spread withdrawals over days to avoid fees.

6. Big Expenses Like Souvenirs or Tours: Need ₦2 million for that epic art haul? Withdraw ₦500,000 weekly over four weeks (if your trip allows), or cough up ₦45,000 for instant access. Weigh convenience against cost, especially with flight delays in mind.

 The Upsides for Travellers

Not all doom and gloom! These changes actually make some things better:

– Free Deposits: Stash any extra cash back into your account without fees, great if you over-withdraw.

– Unlimited Transfers and POS: Send money to your travel buddy or pay vendors instantly.

– Safer Travels: Less cash on you means lower theft risk in crowded areas.

– Cash Remains Legal: No worries about it being rejected; it’s just not the cheapest option for bulk.

Plus, Nigeria’s fintech scene is booming, and apps make budgeting a breeze, even for short stays.

 Smart Ways to Dodge Those Fees on the Road

Stay ahead with these traveller-tested tips:

– Go Card and App Crazy: Use your international debit/credit card for most things. Download local apps like Moniepoint for quick transfers.

– Time Your Withdrawals: Spread them out, grab cash mid-trip rather than all at arrival.

– Pay Big Bills Digitally: Hotels, tours, and transport often take bank transfers or cards now.

– Emergency Fund Strategy: Keep funds in an accessible account for fast transfers, not cash.

– Mix It Up: Withdraw your weekly max in cash for small stuff, transfer the rest for bigger payments.

– Forex Alert: Exchange money digitally via apps to avoid poor airport rates, and remember: Multiple accounts won’t bypass limits, the system tracks you.

One No-Go: Don’t rely on cash-only for everything. Digital tools aren’t just convenient; they’re now essential for fee-free travel.

 Why Digital Wins for Your Nigerian Adventure

These rules make apps and cards your best travel companions. They help you:

– Track expenses on the go (no lost receipts in your backpack)

– Avoid ATM hunts in unfamiliar neighbourhoods

– Build a digital trail for any visa or tax needs

– Save cash for where it shines, like tipping street performers

Nigeria isn’t ditching cash, it’s evolving toward smarter, safer money moves that align with modern travel.

 Quick FAQs for Jet-Setters

Is cash banned in Nigeria? Nope, just limited in bulk to encourage digital.

Can I withdraw more than ₦500k as a tourist? Absolutely, but pay 3% on the overage.

Do ATM pulls count toward the limit? Yes, every cash method does.

What about business travel withdrawals? Up to ₦5m weekly, 5% on extra.

Are deposits free? Yes, unlimited and fee-free—perfect for returning unused cash.

Multiple banks help? No, it’s per person, not per account.

 Wrapping It Up: Travel Smart, Not Stressed

No need to rethink your Nigeria itinerary, these limits are more annoyance than obstacle. Adapt by going digital, plan your cash needs, and you’ll glide through without a hitch. Those who embrace the change? Smoother trips and extra naira for that jollof rice feast.

Safe travels, and remember: In Nigeria, the real currency is the experience. Withdraw less, explore more, your adventure awaits!