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Breaking:CBN Increases Withdrawal Limit To 500 Thousand Naira

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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.

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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.

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Kano Thuggery: Residents Flee, Raise Alarm Over Rising Violence, Criminal Activities in Bachirawa Community

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Residents of Bachirawa and surrounding communities in Kano State have raised concerns over what they describe as a worsening security situation marked by violent clashes, criminal activities, and the displacement of residents.

The concerns were contained in a statement issued by the Bachirawa Consensus Development Association (BCDA), which alleged that recurring violence linked to rival groups has continued to threaten lives and property in the area.

According to the association, tensions have escalated in recent weeks, particularly around Bachirawa, Ungogo, Kwanar Ungogo, NRC Road, and the Bayan Waya (Makera) axis. The group claimed that the unrest has been fueled by activities attributed to rival factions identified by residents as Habun Daidai and Tsalha Maikare.

The association further alleged that criminal elements involved in drug trafficking and other unlawful activities have established strongholds in parts of the area, particularly around Kwanar Ungogo Market and adjoining communities. The claims, however, have not been independently verified by security authorities.

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Residents said the persistent violence has created fear among community members, forcing many families to flee their homes in search of safety. They also alleged that several houses had been destroyed during the unrest, leaving affected residents homeless and facing significant economic hardship.

According to the statement, the violence intensified during the Eid-el-Kabir celebrations and continued through June 6, 2026, disrupting normal activities and creating an atmosphere of insecurity across the affected communities.

The BCDA expressed concern over what it described as inadequate intervention by relevant authorities, urging security agencies to take decisive action to restore peace and order in the area.

The association specifically appealed to the Kano State Commissioner of Police to review the deployment of personnel within the Bachirawa and Ungogo Police Divisions as part of efforts to strengthen security and rebuild public confidence.

The group also called on the Kano State Government under Governor Abba Kabiru Yusuf to conduct an independent assessment of the security challenges facing the area.

“We appeal to His Excellency to either visit the community personally or send a high-powered delegation to investigate the situation and assess the conditions in Kwanar Ungogo Market, which residents believe has become a major hub for criminal activities,” the statement said.

The association further referenced an incident involving an alleged assault on a resident, claiming that a suspect identified as Baffa remains at large. The group expressed concern over the alleged lack of progress in the case and called for a thorough investigation by security agencies.

Community leaders said the deteriorating security situation has continued to affect social and economic activities, with many residents living in fear of further violence.

They urged security agencies and government authorities to take immediate steps to address the underlying causes of the unrest, apprehend those responsible for criminal acts, and provide protection for law-abiding residents.

The residents maintained that urgent intervention is needed to prevent further escalation and restore peace to Bachirawa and neighboring communities.

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Kebbi Police Arrest Seven Suspected Terrorists in Intelligence-Led Operations

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The Kebbi State Police Command has recorded a major breakthrough in its ongoing fight against terrorism and banditry with the arrest of seven suspected terrorists during coordinated intelligence-led operations in Bagudo Local Government Area of the state.

The suspects were apprehended on June 5, 2026, during a series of security operations targeting criminal networks operating within the Soda Forest axis and surrounding border communities. The operations form part of the Command’s sustained efforts to dismantle terrorist cells, disrupt logistics channels, and curb violent crimes across affected areas.

According to a statement issued by the Police Public Relations Officer, Kebbi State Command, SP Bashir Usman, security operatives acting on credible intelligence intercepted three suspects along the Illo–Lolo Road while they were travelling on a Haojue motorcycle from the Soda Forest area towards nearby border communities.

Preliminary investigations revealed that the suspects were allegedly on a mission to procure food supplies intended for criminal elements hiding within the forest. The suspects were identified as Muhammadu Bande, Aliyu Abubakar, and Muhammadu Aliyu. The motorcycle used by the suspects was also recovered during the operation.

In a separate operation conducted along the Bakin Ruwa–Ka’oje axis, security operatives arrested four additional suspects identified as Haruna Abubakar, Abubakar Lawali, Anme Shehu, and Yahaya Shehu. The arrests were made as police intensified efforts to dismantle criminal networks and deny suspected terrorists freedom of movement within the area.

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Police authorities disclosed that all seven suspects are currently in custody and are assisting investigators. Ongoing investigations are expected to determine the full extent of their alleged involvement in criminal activities and establish possible connections to recent security incidents in the area, including an attack that resulted in the deaths of three officials of the Federal Road Safety Corps (FRSC).

The Command stated that the suspects would be charged to court upon the conclusion of investigations.

Speaking on the development, the Commissioner of Police, Kebbi State Command, CP Umar M. Hadejia, described the arrests as a significant operational success in the state’s ongoing campaign against terrorism, banditry, and other forms of violent crime.

He commended the professionalism, resilience, and dedication of the operatives involved in the operations, noting that their efforts had contributed significantly to improving security in affected communities. The police commissioner also expressed appreciation to members of the public whose timely and credible information aided the success of the operations.

CP Hadejia reaffirmed the Command’s commitment to sustaining intelligence-driven policing strategies aimed at dismantling criminal networks, disrupting their supply chains, and restoring lasting peace and security across Kebbi State.

He further urged residents to remain vigilant and continue collaborating with security agencies by providing useful and timely information on suspicious activities. According to him, all information received from members of the public would be treated with the highest level of confidentiality.

The Kebbi State Police Command assured residents that efforts to combat terrorism, banditry, and related crimes would continue unabated, adding that further updates would be provided as investigations progress.

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FG Approves Payments to 1,240 Contractors

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By Yusuf Danjuma Yunusa

The federal ministry of finance says it has approved payments to more than 1,240 contractors across ministries, departments and agencies (MDAs).

In a statement on Monday, Mary-Ann Duke, senior special assistant on communication and press secretary to the minister of finance, said the approval followed a verification and reconciliation exercise to validate outstanding obligations.

Duke said contractors with verified claims of N100 million or less were prioritised in the latest batch of payments.

“The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations,” the statement reads.

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The ministry said the payments would provide relief to indigenous businesses and small and medium-sized enterprises (SMEs), enabling them to return to project sites, pay workers and settle suppliers.

“Contractors prioritised for payment in the most recent batch are those with verified claims in the region of N100 million or less,” Duke said.

The ministry added that the federal government has processed more than N700 billion in verified obligations owed to local contractors in recent months.

The statement said within the month of May alone, approximately N436.6 billion in transactions were processed, demonstrating a significant acceleration in payment activity aimed at unlocking liquidity and supporting economic growth.

According to the ministry, prioritising smaller contractors is intended to spread the impact of the disbursements across sectors and regions, while helping businesses sustain operations, preserve jobs and complete ongoing projects.

The ministry said the latest payments are also expected to boost confidence among contractors, suppliers and service providers doing business with the government.

In January, local contractors prevented Doris Uzoka-Anite, the former minister of state for finance, from accessing the ministry.

Six months later, the senate constituted a panel to engage the finance ministry on debts owed to contractors.

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