• Latest
  • Trending
  • All
FG To Stop Cash Withdrawals From All Government Accounts

FG To Stop Cash Withdrawals From All Government Accounts

Ibas faults NBA for moving Conference from Rivers to Enugu, demands Refund of N300m Hosting Rights

Rivers LG Administrator Resigns

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

2027: Atiku, Amaechi, El-rufai form New Political Party, writes INEC

Court remands TikToker For Bathing On Street

Court remands TikToker For Bathing On Street

JUST IN: Presidency warns Nigerians, Leaders over Opposition to Tinubu’s Tax Reform Bills

Tinubu lands in Benue amidst Aftermath of Yelewata attack

CAC Increases Service Fees from  August 1

CAC Increases Service Fees from August 1

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

Air India Plane carrying 242 Passengers Crashes after Takeoff (Video)

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

CBEX Resumes Operations, asks Nigerian Investors To Deposit $200

How Fuel Prices rose from 6 kobo-N650/litre Since 1973 to 2024

Fuel Marketers Engage Suppliers To Crash Petrol Price To N700/Litre

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Tinubu’s Petrol Subsidy Removal Generates $84b, 40 roads – Reports

Ondo Deputy Speaker and Majority Leader resign

Ondo Deputy Speaker and Majority Leader resign

  • About Us
  • Advertise with Us
  • Editorial Policy
Monday, June 23, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

FG To Stop Cash Withdrawals From All Government Accounts

by iDeemlawful
December 21, 2022
A A
FG To Stop Cash Withdrawals From All Government Accounts
FacebookTwitterWhatsapp

The Nigerian Financial Intelligence Unit (NFIU) says the government will stop cash withdrawals from federal, states and local government accounts.

Modibbo Tukur, director/chief executive officer (CEO), NFIU, disclosed this in a statement on Tuesday, signed by Ahmed Dikko, the unit’s chief media analyst.

Tukur, according to the statement, spoke at a parley with Mahmud Yakubu, chairman of Independent National Electoral Commission (INEC), on Monday.

RelatedPosts

CBN dragged to Court over ATM fee hike

JUST IN: Governor Adeleke cast his votes as Osun LG poll begins

Meranda presides over Lagos Assembly plenary amidst Tension

JUST IN: Lagos Assembly Speaker, Mojisola Meranda faces mounting pressure to step down

“The government is putting all necessary measures in place to stop cash withdrawal from federal, states and local government accounts,” he said.

“Because of the consistent devaluation of the naira and the introduction of a new naira policy, section 1 of the money laundering prohibition act is automatically activated”.

Tukur further said most cash withdrawals from government accounts — including payments for estacode — are often in excess of the cash withdrawal limit provided by the money laundering act.

He said this puts public servants at risk of imprisonment.

Additionally, Tukur said the NFIU has already prepared recommendations to the secretary to the government of the federation; all governors; and local council chairs, directing all civil servants to open domiciliary and naira accounts prior to the commencement of the policy.

The NFIU CEO said governors and council chairmen will also need to organise training for market men and women on how to use automated teller machine (ATM) and point of sale (POS) services.

However, he refuted reports that the NFIU will block FG accounts in January 2023.

Meanwhile, the unit’s decision comes on the back of the Central Bank of Nigeria’s (CBN) cash withdrawal policy, where weekly cash withdrawals are fixed at N100,000 for individuals and N500,000 for corporates.

Maximum cash withdrawal at POS terminals has also been reduced to N20,000 daily

Tags: CBNiPad
Previous Post

JAMB Releases Scheduled Dates For 2023 UTME

Next Post

“I’ll quit as Twitter CEO once I find someone foolish enough to replace me” – Elon Musk

iDeemlawful

iDeemlawful

Related Posts

Court remands TikToker For Bathing On Street
Breaking News

Court remands TikToker For Bathing On Street

JUST IN: Presidency warns Nigerians, Leaders over Opposition to Tinubu’s Tax Reform Bills
Breaking News

Tinubu lands in Benue amidst Aftermath of Yelewata attack

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma
Breaking News

Benue: Military deploys Air Surveillance after Terror Invasion killed over 100 in Guma

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA
Breaking News

DEMOCRACY ON TRIAL: A LEGAL REFLECTION ON 25+ YEARS OF CIVILIAN RULE IN NIGERIA

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks
Breaking News

Chief of Army Staff Oluyede relocates to Markurdi over Herdsmen Attacks

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes
Breaking News

‘How driver lost control’ – Survivor Narrates Accident that killed 22 Kano Athletes

Nigerian Government Announces Public Holidays for Sallah Celebrations
Breaking News

Nigerian Government Announces Public Holidays for Sallah Celebrations

The progress of Kano state is non – negotiable – Engr. Yusuf
Breaking News

Kano Declares 12-day Sallah Holiday for Schools

Kwara mobile court convicts 135 sanitation violators |
Breaking News

Kwara Law Students Appeal for Immediate Release of Law School Scholarship Funds

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud
Breaking News

‘We have recovered reasonable amount’ – EFCC gives update on N1.3trn CBEX crypto fraud

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In