• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book

    NFIU Hints on Discontinuation of Cash Withdrawal from Public Account

    By
    Ahmed Dikko
    -
    December 20, 2022
    A woman takes Nigerian Naira from a bank's automated teller machine (ATM) in Ikeja district in the commercial capital Lagos November 12, 2014. Nigeria's naira currency weakened slightly on the interbank market on Tuesday due to strong demand for dollars from foreign investors. REUTERS/Akintunde Akinleye (NIGERIA - Tags: BUSINESS) - RTR4DUX1

    NFIU Hints on Discontinuation of Cash Withdrawal from Public Account

    Read Also:

    • Senator Dickson Breaks Silence: Rejects Defection to APC, Backs Amupitan for INEC Chair
    • ECOWAS Anti-Corruption Network Re-Elects EFCC Chair Olukoyede, Adopts New Guidelines
    • NANS Issues 7-Day Ultimatum to FG, ASUU to End Dispute or Face Action

    The Nigerian Government is putting all necessary measures in place to stop cash withdrawal from Federal, States and Local Government Accounts.
    The Director/CEO of the Nigerian Financial Intelligence Unit (NFIU), Modibbo Hamman Tukur hinted this yesterday at a parley with the Chairman of Independent National Electoral Commission (INEC), Prof. Mahmud Yakubu.
    According to the NFIU CEO “ 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”.
    Mr Tukur further stated that 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. This, he said, exposes innocent Public Servants to being liable to imprisonment. He also said the NFIU is already developing an advisory to the Secretary to the Government of the Federation, All Governors and Local Government Council Chairmen to direct all public servants to open domiciliary and Naira accounts ahead of the commencement of the policy which becomes compulsory by law.
    Mr Tukur said Governors and Council Chairmen will also need to organize training for market men and women on how to use ATM and POS Services.
    In the same vein, the NFIU Chief Media Analyst, Ahmed Dikko has refuted the news going round that the NFIU will block Federal Government Accounts in January 2023.

    Ahmed Dikko
    Chief Media Analyst.

    VISIT OUR OTHER WEBSITES
    PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
    EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
    HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
    ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
    • TAGS
    • Cash Withdrawal
    • INEC
    • NFIU
    Previous articleNSCDC Gets Response Office in Zamfara, Assures Residents of Safety in Anambra
    Next articleNYSC to Corpers: Accept Your Postings in Good Faith
    Ahmed Dikko
    Ahmed Dikko

    RELATED ARTICLESMORE FROM AUTHOR

    Irabor's book on Boko Haram

    Irabor’s Scars on Northern Boko Haram and the Dead Horse Theory by YAShuaib

    Scars: Nigeria’s Journey and the Boko Haram Conundrum

    Gen. Irabor’s Book Exposes Boko Haram’s Sexual Violence Tactics and Drug Use

    NDLEA Logo

    NDLEA Operatives Nab Businessman After Excreting 127 Wraps of Cocaine at Kano Airport

    Nigerian Youths

    Foreign Hands and the Dangerous Narratives Hurting Nigeria, By Mukhtar Ya’u Madobi

    Scars: Nigeria’s Journey and the Boko Haram Conundrum

    In Scars, Gen. Irabor Chronicles the Human Toll of Boko Haram: 2,700 Soldiers and 350,000 Lives Lost

    Troops Crush Terrorist Attack in Ngamdu, Kill Several Insurgents

    Guests at IPRA Conference in Ghana

    TRAVELOGUE: Of a Roadside Presidential Office, a Wise Driver and 3 Days in Ghana

    GWA Award Winners 2025

    Another Beautiful Evening for Nigeria Customs in Accra

    NITDA Unveils Trustmark Platform for Safer E-Commerce in Nigeria

    Professor Joash Ojo Amupitan

    Tinubu Nominates Prof. Amupitan, a Northern Yoruba Scholar, as New INEC Chairman

    Governor Umar Dikko Radda and Chief of Army Staff, Lieutenant-General Olufemi Oluyede, at Army Headquarters, Abuja.

    Gov Radda Hails Troops’ Gallantry, Seeks for New Army Unit in Katsina

    Tinubu: Shuttle Diplomacy and the Power of Showing Up

    Recent Posts

    • Senator Dickson Breaks Silence: Rejects Defection to APC, Backs Amupitan for INEC Chair
    • ECOWAS Anti-Corruption Network Re-Elects EFCC Chair Olukoyede, Adopts New Guidelines
    • NANS Issues 7-Day Ultimatum to FG, ASUU to End Dispute or Face Action
    • Again, Army Eliminates Bandits, Rescues 9 Abducted Victims in Kwara
    • NAF Decorates 64 Senior Officers Promoted to Group Captain
    • Home
    • About
    • Adverts
    • Contact
    © 2020 PRNigeria. All Rights Reserved.
    Latest News
    Senator Dickson Breaks Silence: Rejects Defection to APC, Backs Amupitan for INEC ChairECOWAS Anti-Corruption Network Re-Elects EFCC Chair Olukoyede, Adopts New GuidelinesNANS Issues 7-Day Ultimatum to FG, ASUU to End Dispute or Face ActionAgain, Army Eliminates Bandits, Rescues 9 Abducted Victims in KwaraNAF Decorates 64 Senior Officers Promoted to Group CaptainAbuja's Real Estate: The Math Is Not Mathing By Hawwah A GamboBoko Haram: FG Commends Borno People for Overcoming Decade-Long ChallengesMarwa Urges Global Unity to Dismantle Criminal Drug Networks at UN SessionDSS Nabs Two Dismissed Officers for Impersonation, Defrauding NigeriansCustoms Tasks New Comptrollers on Discipline, InnovationRivers Police Arrest Two Kidnappers Who Lured Victim Through Dating SiteBusiness Mogul and Philanthropist Alhaji Ali Akinyele Dies at 78Troops Foil Drug Trafficking in Nasarawa as Suspect Flees, Abandons VehicleKano Correctional Service Explains Transfer of Inmate Abduljabbar KabaraTroops Raid Terrorist Camps in Taraba; Recover AK-47, Military Uniforms
    X whatsapp