fbpx
Connect with us

News

Breaking:CBN Increases Withdrawal Limit To 500 Thousand Naira

Published

on

Godwin Emefeile ,CBN Governor

CBN Increases Weekly Withdrawal Limits; individual 500 thousand naira, Corporate 5 Million Naira.

The Central Bank of Nigeria (CBN) has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively.

The directive is contained in a circular issued by the bank on Wednesday and signed by Haruna Mustafa, director of banking supervision department.

The development comes two weeks after the CBN reduced the weekly over-the-counter cash withdrawal limit for individuals to N100,000 and that of corporate organisations to N500,000.

The bank also reduced withdrawals at automated teller machines (ATMs) and point-of-sale terminals to N20,000 per day.

The policy had generated mixed reactions from Nigerians. While some said it would have a negative effect on small businesses, others applauded it as a strategic move towards boosting the cashless policy and reducing the amount of cash outside the banking system.

In the circular, the apex bank said it made the upward review based on feedback received from stakeholders.

“The Central Bank of Nigeria (CBN) hereby makes the following reviews: (1) the maximum weekly limit for cash withdrawal across all channels by individuals and corporate organisations shall be N500,000.00 and N5,000,000.00 respectively,” the circular reads.

The Cable

 

#

News

Breaking: Tinubu Orders Release of Minors Arrested Over Endbadgovernance Protest

Published

on

President Bola Ahmad Tinubu

President Tinubu Orders release of all minors who participated in the Endbadgovernance protest .

 

The minister of information and national orientation Muhammad Idris stated this to state House correspondents.

Minister of Information and National Orientation, Mohammed Idris, disclosed this while briefing State House correspondents, on Monday.

The Minister was flanked by the Bayo Onanuga, Special Adviser to the President on Information and Strategy; Sunday Dare, Special Adviser on Public Communications and orientation.

Idris stated that the President has instructed the Attorney-General of the Federation, Lateef Fagbemi, to begin the process of securing the minors’ release without delay.

“The President has directed that all minors be released on the and also reunited with their families anywhere they are in the country. A committee has been set up to look at the issues surrounding their arrest, detention and release. All the law enforcement agents related to the case will be investigated and anyone found wanting will be brought to book,” he said.

 

#

Continue Reading

News

76 Detained Children: Northwest Youth-Students Forum hails Senator Barau, AGF’s prompt intervention

Published

on

 

The Northwest Youth and Students Forum (NWYSF) has expressed its heartfelt appreciation to the Deputy President of the Senate, Senator Barau I. Jibrin and the Minister of Justice and Attorney-General of the Federation, Lateef Fagbemi, SAN, for their prompt intervention in the detention of minors by the Nigeria Police Force, following the End Bad Governance Protest.

The forum in a statement signed by its National Chairman, Abubakar Isyaku Balan said the swift action by the leaders will brings hope to the affected families and demonstrates a commitment to protecting the rights of vulnerable citizens nationwide.

He said “The giant move of the Deputy President of the Senate and the Attorney General of the Federal is no doubt a commendable one. We are proud of this and look forward to the release of the children courtesy of this movement.”

According to the statement, the NWYSF, as a forum comprising of talented youth and students, deemed it necessary to protectively initiate awareness programs that will enlighten the teeming youth on human rights and activism.

“We acknowledge that the minors actions were driven by ignorance and a lack of proper orientation, underscoring the need for civic education and sensitization in the Northwest region. Addressing the underlying issues that led to this situation is crucial, rather than simply punishing the minors. This approach will foster a more informed and empowered youth.

#

“Considering the economic situation in the North, we urge the Federal Government to show compassion and release the detained minors, taking into account their age and circumstances. We also call on the government to provide support for their rehabilitation and education.

“In partnership with government agencies, non-governmental organizations, and community leaders, NWYSF will develop sensitization initiatives focusing on empowering youths with knowledge of their rights and responsibilities, promoting understanding and respect for human rights and teaching alternative dispute resolution methods.

“In view of the above, by working together, we can prevent similar incidents and foster a more informed, peaceful, and inclusive society,” the statement added.

 

Continue Reading

News

ICPC Arraigns Provost, Lecturer for Certificate Forgery in Sokoto

Published

on

Dr Musa Adamu Aliyu ,ICPC Chairman

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Hauwau Gimbiya Mukhtar Abdulkarim, the serving Provost of the Federal College of Education (Technical) (FCET), Gusau, alongside Abdullahi Boyi, a lecturer with the Sokoto State College of Education (SSCE), on alleged certificate forgery.

The duo were arraigned on a six-count charge, registered as charge No. SS/213c/2024, before Hon. Justice Muhammad Aliyu Sambo at the Sokoto State High Court. ICPC accused the two defendants of forging an appointment letter and using it to apply for the position of Provost at the Federal College of Education (Technical) Gusau, Zamfara State.

The defendants were also accused of making false statements to ICPC officers during the investigation, which is an offence under Section 25(1)(a) and punishable under Section 25(ii)(b) of the Corrupt Practices and Other Related Offences Act 2000. “Both defendants, however, pleaded ‘not guilty’ to all six charges when read to them by the Court’s Registrar,” the ICPC revealed in a statement.

Counsel for the defendants, Dr. Muhammad Mansur Aliyu and Mr. M.S. Diri SAN, moved for bail applications on behalf of their clients. They requested the court to consider reasonable bail terms, citing the defendants’ “established positions and cooperation during the investigation.”

Counsel to the ICPC, Mr. Suleiman Ahmad, did not oppose the bail applications. Following the consideration of the applications, Hon. Justice Sambo granted bail under specific conditions designed to ensure the defendants’ continued presence throughout the trial proceedings.

The bail conditions require each defendant to provide two sureties who are permanent residents of Sokoto State, with each surety signing a bond of one million naira (₦1,000,000). After granting bail, the ICPC prosecutor requested a date for the trial to commence, emphasizing the Commission’s preparedness to present witnesses and evidence in support of the charges.

Hon. Justice Sambo adjourned the matter to November 21, 2024, when the hearing is set to begin. The prosecution is expected to call witnesses and introduce material evidence to substantiate the allegations.

The ICPC press release was signed by Demola Bakare, Acting Director of Public Enlightenment and Education, and Spokesperson for the Commission.

 

#
Continue Reading

Trending