✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

No going back on cash withdrawal limits, NFIU tells govs

The Nigerian Financial Intelligence Unit has said it will not reverse the cash withdrawal limit guidelines it issued earlier this month regarding financial operations of the three tiers of government in Nigeria.

The NFIU issued the statement in reaction to its meeting with the governors of the 36 states of the federation who had sought its understanding to reconsider or tinker with the cash withdrawal guidelines.

The Nigeria Governors’ Forum (NGF) had faulted the recent directive by the NFIU directing banks from executing demands for cash withdrawals from all public accounts.

SPONSOR AD

The NFIU, on January 5, directed banks in the country to stop executing demands for cash from public accounts, as well as payment of estacodes and travelling allowances, effective March 1, 2023.

2023: I won’t sell Nigeria’s assets – Nwanyanwu

Major marketers jerk petrol price to N190/Ltr

 But in a statement signed by its chief media analyst, Ahmed Dikko, the NFIU stated that  it had given enough time for all entities in the country to withdraw cash above the approved daily limit and it was no longer in the interest of the country and its citizens to continue to indulge in such violation.

According to the statement,  the director of the NFIU, Modibbo Hamman Tukur, had said at the end of his meeting with the governors that the agency was, however, ready to cooperate with the six-man committee set up to work with it.

Modibbo said, “We acted within our functions and the law. We issued the guidelines to control the barrage of investigations we saw coming. Our guidelines are meant to help the governors not to fight them or any public servant

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.