National News
FG, States, LGs Go Full Cashless March 1
FG, States, LGs Go Full Cashless March 1
Worried by the inflationary consequences of huge public sector cash withdrawals on the nation’s economy, the Nigerian Financial and Intelligence Unit (NFIU), yesterday, outlawed cash withdrawals from all government accounts effective March 1, 2023 warning that defaulters risk three-year jail term.
The NFIU, declared that such transactions would now be done electronically in line with the Central Bank of Nigeria (CBN) monetary policy.
It said defaulters who fail to heed the cash restriction order on public accounts risks collaborative investigation by the Nigeria Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC).
Director and Chief Executive Officer, NFIU, Modibbo Tukur, who confirmed the latest development at a press briefing, at the Unit’s office in Abuja, said defaulters risk spending three years behind bars.
He said “The NFIU had told banks and government agencies at all levels to go fully digital by moving online, as all transactions involving public money must be routed through the banks for the purpose of accountability and transparency.
“This is not reversible as we are only enforcing the law. As far as we are concerned, Nigeria will become a full non-cash economy by March 1, 2023 this year.
As a consequence, any government official that withdraws even one naira cash from any public account from March 1 will be investigated and prosecuted in collaboration with relevant agencies like EFCC, ICPC and the NPF,” he said.
Tukur clarified that under the guidelines, only the President can give a waiver for any cash above the approved daily threshold to be withdrawn for urgent or emergency reasons.
He said despite the introduction of the cash withdrawal limits in the country, state governments withdraw a total of N701 billion cash above the N225 billion withdrawn by the Federal Government and N156 billion withdrawn by the local governments in the country, bringing total public sector cash withdrawals between 2015 to date to N1.082trillion.
“With some states withdrawing up to N24 billion and then we also discovered that the Federal Government withdrew in cash up to N225 billion while the local governments withdrew up to N156 billion.
“So if we are to apply the law here, all the public servants involved in this withdraws are entitled to three years imprisonment. That’s what the law said,” he said.
The NFIU therefore directed federal, state and local governments in the country to put necessary measures in place to ensure the smooth operationalisation of the new policy.
He advised the different tiers of government in particular, to deploy technology and train their staff to be able to apply the new policy from the stipulated date.
Modibbo said: “With the implementation of this guideline, Nigeria has been taken into a non-cash economy with effect from March 1, 2023.”
Continuing, he said: “The rate of withdrawals above the threshold from public accounts has been alarming, over N701 billion has been withdrawn in cash from 2015 till date. So you are all aware of the inflation in the economy, public servants traveling ,this and that, so the mark of withdrawing above the threshold is becoming very frequent.
“For government exigencies, only the President has the power to grant any waiver to any government official considering the importance of the situation; either for national security, health, or other important reasons.”
“From the first of March 2023. If there is any cash withdrawal, it is going to trigger off money laundering investigation in either EFCC ICPC, the Nigerian police, or all the law enforcement agencies, depending on the relevance of the withdrawal.
“So it’s also understood, the cash in the system is limited. But with this guideline, we expect that cash withdrawal from the system will go down by about N1 trillion Naira out of the N3 trillion cash that is in circulation on a weekly basis now.”
In his reaction, Frank Onyebu, Chairman, MAN, Apapa Branch, said: “This measure is laudable, but I think it’s still a tall order based on so many militating factors, chief of which is infrastructural deficiency. We cannot be talking about going totally cashless when we still have problems with internet penetration.
Chairman, SMEs Group of the Lagos Chamber of Commerce and Industry (LCCI), Daniel Dickson-Okezie said it was a welcome development.
“The more cashless we go, whether at governmental , organisational or individual levels, the better for the economy and society.
The issue of cashless economy was mooted for the first time during the Olusegun Obasanjo administration. The policy is acceptable because it will check crime , money laundering, corruption in government, private and public sectors.
Businesses don’t thrive in a corrupt society, investors don’t want to invest in a corrupt environment and corruption affects government too. So cashless economy will tame corruption,” he said.
He however tasked the government to follow it up by improving information technology infrastructure saying “The whole thing is based on ICT and it is important that we are able to make payments seamlessly.”
An economist, Dr Nathan Owhor, lauded the directive by NFIU on MDAs to ensure that all receipts and payments on government transactions from March 2023 are cashless is good for the economy.
“The leakage in the MDAs are huge and not good enough for the economy. The Chief Executives in the MDAs must learn how to be accountable and show greater financial discipline.
Some of them who claim to have strong godfathers are actually reckless with government finances and they enjoy protection. This protection is usually sustained by huge cash rewards which is a drain on the economy.
“The new cashless policy for the MDAs will therefore achieve four broad objectives amongst others. In the first instance, which is perhaps key is the ability to track government receipts and payments.
Secondly, it has the capacity to reduce the high level of waste and mismanagement in the MDAs. It will also build trust in the domestic economy because of the level of transparency it will engender.
All of these possibilities in the final analysis will make more funds available for development projects,” he said.
FG, States, LGs Go Full Cashless March 1
National News
Nigeria, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm
Nigeria, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm
By: Michael Mike
Nigeria is not taking lightly the shooting of an immigration officer at a Chinese firm in Jos, Plateau State.
The Minister of Interior, Hon. Olubunmi Tunji-Ojo who narrated the story,
The federal government has threatened a serious diplomatic row with the Republic of China over maltreatment of a Nigerian Immigration Service officer shot by a Chinese company in Nigeria for asking for the company’s expatriate list.
Minister of Interior, Hon. Olubunmi Tunji-Ojo, who narrated the story on Thursday in Abuja at a stakeholders sensitisation workshop on the implementation of the Nigeria Visa policy 2025, said Nigeria is not handling the matter with kid gloves as it would be taken up as a diplomatic issue.
Tunji-Ojo lamented that the development alone is an attack on Nigeria. It will never be condoned.
He said the Immigration officer, who was on official duty, had visited the Chinese company in Jos, Plateau state, to check the list of the company’s expatriates, but the owner of the company ordered a security officer in the premises to shoot the government official.
Tunji-Ojo said: “I won’t go to China as a Nigerian, open a company and tell my security to shoot a government official in uniform. It’s never done anywhere in the world.
“These officers put their lives on the line. These officers serve this country with their all. And you will not come from anywhere and ask them to shoot them in their fatherland.
“It will no longer happen. We will take it up with you. Because that company, we (Nigerian government) have the power to withdraw their business permit Nigeria and declare them illegal.”
He wondered how it had become an offence for an Immigration officer to visit a foreign company and demand to see their expatriate list.
He said: “It will not happen again. So we’re going to be very hard. We will not stop your business. We will not overburden your business. But don’t make us inferior in our own land. No, please.
“And we’re going to be very tough on this. Because talking to you, I’m not just talking with passion on this topic, I’m talking with a lot of anger, because that guy that was shot is a Nigeria that we all swore to protect by virtue of the laws of Nigeria, by the constitution. That Immigration guy was not shot by a terrorist, is a father, he is a son to somebody. He is a husband to somebody. That cannot happen anywhere in the world.
“We will not tolerate it. Please, no agent, no company is above the law,” the Minister declared
Nigeria, China May Head for Diplomatic Row Over Shooting of Immigration Officer at Chinese Firm
Nigeria Explores CNG Technology to Power Defence, Industrial Vehicle Fleets
By: Michael Mike
The Minister of Foreign Affairs, Amb. Yusuf Tuggar has led a high-level delegation on a tour of UROVESA—a renowned Spanish manufacturer of military and industrial vehicles.
The visit focused on exploring potential collaboration in Compressed Natural Gas (CNG) technology for powering Nigeria’s defence and industrial vehicle fleets.
The minister was accompanied on the visit by key figures including the Minister of State for Petroleum Resources, Ekperikpe Ekpo; Presidential CNG Initiative representative, Engr. Michael Oluwagbemi; Engr. Henry Oki; and the Special Assistant for Gas Business and Investment to the Minister of State for Petroleum Resources (Gas), where they all engaged in detailed discussions with UROVESA executives.
During the visit, Tuggar emphasized the longstanding trade ties between Nigeria and Spain, noting that Spain remains one of Nigeria’s top trading partners, with Nigerian crude oil exports reaching $3.64 billion in 2023.
He lauded UROVESA’s innovative approach to producing all-terrain, armoured, tactical, and logistical vehicles, and expressed Nigeria’s growing interest in and implementation of CNG-powered solutions.
Tuggar also highlighted Nigeria’s business-friendly economic reforms under President Bola Ahmed Tinubu’s administration, which have positioned the country as a prime destination for investment in clean energy technologies. The discussions provided a valuable platform for further exploration of future collaborations between UROVESA and Nigeria’s Ministry of State for Petroleum Resources (Gas) in CNG-powered vehicle production and supply.
According to a statement by the foreign affairs minister spokesman, Alkasim AbdulKadir, the engagement not only reinforced Nigeria’s commitment to a green energy future but also laid the groundwork for modernizing the nation’s defence and industrial fleets with environmentally friendly and cost-effective energy solutions.
He said the promising outcome of the discussions sets the stage for a strategic partnership that is expected to foster sustainable innovation and drive economic growth for both Nigeria and UROVESA.
Nigeria Explores CNG Technology to Power Defence, Industrial Vehicle Fleets
ECOWAS Hands Over Drug Rehabilitation Centre to Aminu Kano Teaching Hospital
By: Michael Mike
The Economic Community of West African States (ECOWAS) has handed over a drug rehabilitation center to Aminu Kano Teaching Hospital in North West Nigeria to enhance drug related treatments.
Handing over the facility, the Director Humanitarian and Social Affairs, ECOWAS Dr. Sintiki Tarfa Ugbe, represented by Head of ECOWAS Drug Prevention and Control Division Dr. Daniel Amankwaah expressed the commitment of ECOWAS in fostering regional cooperation and providing technical and financial assistance to member states in tackling substance abuse.
He explained that, the renovated and equipped facility stands as a symbol of ECOWAS shared responsibility to protect public health, promote human dignity, and offer a second chance to those struggling with drug dependence.
He said: “As ECOWAS officially hand over this facility which was funded through ECOWAS own resources, we reaffirm our commitment to expanding access to quality drug treatment services and strengthening the resilience of our communities across West Africa.”
According to him, the ECOWAS Commission, under its drug prevention and control programme launched the support to its Member States to build or renovate their drug treatment centres.
He said: “the project targets all Member States to have at least one national drug treatment centre. So far, 8 centres in 6 Member States have been completed. Additional 12 centres are currently at various stages of construction. In Nigeria, 4 centres have been completed and additional 3 are at various stages.”
He expressed confidence that, the the facility will contribute to improving social functioning, by reducing the harmful effects of substance use, and enhancing the quality of life for people who use Drugs (PWUDs).
The Chief Medical Director Aminu Kano Teaching Hospital (AKTH), Professor Abdurrahman Abba -Sheshe while thanking ECOWAS for the projects, described drug addiction and substance abuse as a pandemic that requires the support of the regional body.
He expressed confidence that, the well equiped facility will transform lives of addicts.
“I commend the NDLEA for their efforts in the fight against drug abuse not only in Kano state but the entire country. It requires all to achieve the desired results.”
The Commander of Narcotics National Drugs Laws Enforcement Agency NDLEA Kano State Ahmad Idris, informed the gathering that, the Kano command successfully counseled and rehabilitated over 100 in clients in 2024 representing a 43% increase from 2023 with significant increase in the campaigns against drug abuse
He noted that, the intensified War Against Drug Abuse WADA activities have contributed to the growth in the rate of client counseling.
“As ECOWAS continues to work towards its vision of a united, prosperous West Africa, its efforts in combating drug addiction will be critical in creating a brighter, healthier future for the region.”
ECOWAS Hands Over Drug Rehabilitation Centre to Aminu Kano Teaching Hospital
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