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      DSS Secures 15-Year Jail Term for Ansaru Leader Over Illegal Mining

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    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:

    • Army Rescue 17 Kidnap Victims in Kogi State
    • FG to Schools: Get Certified Teachers or Lose WAEC Accreditation
    • Emir of Ilorin, CP Lead Special Prayers Against Insecurity in Kwara

    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.

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    Army Rescue 17 Kidnap Victims in Kogi StateFG to Schools: Get Certified Teachers or Lose WAEC AccreditationEmir of Ilorin, CP Lead Special Prayers Against Insecurity in KwaraTroops Eliminate Terrorist, Rescue Kidnap Victims in Sokoto, Katsina, KadunaECOWAS debt: Court Remands Ecobank Legal Head over Perjury, defamation of Judge characterFACT-CHECK: Did Governor Uba Sani describe El-Rufai as "Godsent" who assisted him with various needs, including property acquisitions and even against Peter Obi?DSS Secures 15-Year Jail Term for Ansaru Leader Over Illegal MiningSPECIAL REPORT: Extortion, Blood and Impunity Behind Abuja's Agbero MenaceMUST READ: Why Everyone Should Use AI for Writing, With Pride Without Shame By Abdulsalam MahmudMilitary Kills 6 Terrorists, Lose 3 Soldiers in Zamfara AmbushArmy Arrests Cattle Rustlers, Recover Arms, 164 Stolen Livestock in Plateau, Zamfara, SokotoFani-Kayode Denies Interest in NFA ChairmanshipDEPOWA: Soldiers’ Wives Trained on Balancing Family, Business, and Personal GrowthTroops, Hybrid Forces Free 17 Bus Passengers Abducted in KogiPersonnel Audit to End Guesswork in Civil Service Reforms – Walson-Jack
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