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FG, States, LGs Go Full Cashless March 1

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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that under the guidelines, only the President can give a waiver for any cash above the approved daily threshold to be withdrawn for urgent or emergency reasons.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cash withdrawal limits in the country, state governments withdraw a total of N701 billion cash above the N225 billion withdrawn by the Federal Government and N156 billion withdrawn by the local governments in the country, bringing total public sector cash withdrawals between 2015 to date to N1.082trillion.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

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Shehu Dikko Endorses President Tinubu for Second Term

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Shehu Dikko Endorses President Tinubu for Second Term

By Comrade Philip Ikodor

Abuja, Nigeria – The Chairman of the National Sports Commission (NSC), Shehu Dikko, has called on Nigerians to support President Bola Ahmed Tinubu’s bid for a second term in office come 2027. Dikko made this assertion at the Grand Endorsement event of President Tinubu’s re-election, organized by the National Progressive Hub (NPH), a prominent support group of the All Progressives Congress (APC), held at the Shehu Yaradua Center in Abuja.

Dikko, who hosted the event, highlighted the achievements of the Tinubu administration, including the establishment of the National Sports Commission, which has driven reforms and innovations in sports administration in Nigeria. He also commended the President’s industrial revolution drive, which has led to economic stability and development.

“President Bola Ahmed Tinubu is a great leader committed to positioning Nigeria as a leading nation. His bold economic policies and interventions have yielded positive results,” Dikko said. He also praised the President’s recent executive bill, which mandates key institutions to remit generated revenue directly to government coffers, calling it a significant step towards economic development.

The event also featured the formal inauguration of the 36 state coordinators and the FCT of the National Progressive Hub (NPH) and the unveiling of the Roadmap Framework for strategic grassroots engagement towards the APC’s victory in 2027.

The NPH, a leading APC support group, has thrown its weight behind President Tinubu’s re-election bid, citing his remarkable achievements and commitment to Nigeria’s development. The group is set to mobilize support for the President across the country, leveraging its extensive network and grassroots presence to ensure a landslide victory for the APC in 2027.

The NPH’s endorsement is seen as a significant boost to the President’s re-election campaign, and a testament to his growing popularity and influence among Nigerians.

Shehu Dikko Endorses President Tinubu for Second Term

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FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

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FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

We’re targeting 50% of working population by 2030, says VP Shettima

By: Our Reporter

The Vice President, Senator Kashim Shettima, has inaugurated the Board of the Nigerian Consumer Credit Corporation (CREDICORP), saying access to consumer credit is critical to Nigeria’s ambition of becoming a one-trillion-dollar economy.

According to him, President Bola Ahmed Tinubu established the CREDICORP to build a trusted credit infrastructure, provide catalytic capital to lower borrowing costs, and help Nigerians overcome long-standing cultural resistance to credit.

Speaking on Thursday in Abuja when he inaugurated the Board on behalf of the President, the Vice President said that the quality of life of Nigerians cannot improve without closing the gap between access to capital and human dignity.

“A civil servant who earns honestly does not have to chase sudden wealth just to buy a vehicle, or save for ten years to buy one. A young professional should not remain in darkness simply because solar power must be paid for all at once,” the Vice President said.

VP Shettima disclosed that in just one year of operations, CREDICORP has disbursed over ₦37 billion in consumer credit to more than 200,000 Nigerians, with over half of them accessing formal credit for the first time.

The Vice President said the organisation is specifically tasked with building credit infrastructure to bridge the trust gap between lenders and borrowers, providing wholesale capital and credit guarantees through its portfolio company.

“Ultimately, these critical jobs of CREDICORP will enable access to consumer credit to at least 50 per cent of working Nigerians by 2030,” he said.

The Vice President explained that the new board’s role is not ceremonial as they are custodians of the organisation’s mission, adding that the long-term strength of the institution would depend on their “vigilance, integrity, sacrifice, and commitment.”

He directed Board members to uphold Public Service Rules, the Board Charter, and all applicable governance frameworks, warning that accountability and stewardship of public resources were non-negotiable.

Earlier, Chairman of CREDICORP, Otunba Aderemi Abdul, expressed appreciation to President Tinubu for his vision behind the formation of CREDICORP and for the confidence reposed in them, noting that the establishment of Corporation marked an important step towards strengthening the nation’s financial architecture.

He assured President Tinubu that the board understands its responsibility and will guide the institution to deliver meaningful benefits to Nigerians.

For his part, Engr. Uzoma Nwagba, Managing Director/CEO of CREDICORP, recalled watching President Tinubu saying 20 years ago that consumer credit is one of the major tools that will improve the lives of Nigerians.

He noted that over the past 18 months, the institution has benefited more than 200,000 Nigerians, including students.

He assured that the presidential vision behind CREDICORP would not be taken lightly, as the team considers their appointments a unique, once-in-a-lifetime opportunity.

Other members of the board inaugurated include Olanike Kolawole, Executive Director, Operations; Aisha Abdullahi, Executive Director, Credit and Portfolio Management; Dr. Armstrong Ume-Takang (MD, MoFI), Representative of MoFI; Engr. Bisoye Coke-Odusote (DG, NIMC), Representative of NIMC; and Mohammed Naziru Abbas, Representative of FMITI.

Others are Marvin Nadah, Representative of FCCPC; Chinonyelum Ndidi, Representative of the Federal Ministry of Finance; Mohammed Abbas Jega, Independent Director; and Toyin Adeniji, Independent Director.

FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

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NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres

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NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres

By: Michael Mike

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP), in collaboration with the British High Commission Abuja, has amplified the voices of trafficking survivors in a bold move to confront the fast-growing crisis of cyber-enabled scam operations across Southeast Asia.

At a landmark survivor-centred forum held in Abuja on Monday, stakeholders gathered under the theme, “Confronting the Global Scam Centre Crisis: Perspectives of Nigerian Survivors,” to spotlight the emerging pattern of Nigerians being lured abroad with fake job offers and forced into criminal cyber-fraud networks.

The event featured testimonies from recently repatriated Nigerians who were trafficked to Myanmar, Laos, Cambodia and Thailand, where they were compelled to operate sophisticated online scam schemes under harsh, exploitative and often abusive conditions.

The programme followed a coordinated rescue effort involving NAPTIP, the Nigerian Ministry of Foreign Affairs, the Nigerian Embassy in Bangkok, the British NGO EDEN, and the International Organization for Migration (IOM). Their joint intervention — including cross-border triangulation at the Thai–Myanmar frontier and welfare visits to detained Nigerians at Bangkok’s Immigration Detention Centre — led to the safe return of 23 survivors earlier this month.

Global data underscore the severity of the crisis. According to the Office of the United Nations High Commissioner for Human Rights (OHCHR) 2026 report titled “A Wicked Problem,” credible estimates indicate that at least 120,000 individuals are currently trapped in forced scam operations inside Myanmar alone, with figures exceeding 300,000 across Southeast Asia. The report notes that victims identified originate from at least 66 countries, and that between 2020 and 2025, 74 percent of known victims trafficked into scam centres were taken to Southeast Asia after being promised lucrative employment.

Speaking at the event, the UK Deputy High Commissioner to Abuja, Gill Lever, said the forum was designed to centre survivors’ voices and ensure their experiences inform prevention and response strategies.

“We are here to listen to survivors who have shown remarkable bravery in sharing their experiences,” she said. “The UK is working closely with Nigerian authorities and partners to ensure trauma-informed care, safe repatriation and stronger safeguards against this rapidly evolving threat.”

Representing the Director-General of NAPTIP, Mrs. Kehinde Akomolafe, the agency’s Director of Public Enlightenment, described the accounts as a stark reminder of the cruelty underpinning modern trafficking networks.

“The courage these survivors have shown is extraordinary,” she said. “Their experiences expose the brutal reality of trafficking into scam centres — a crime that strips individuals of their dignity, autonomy and freedom. NAPTIP remains resolute in protecting Nigerians from this growing menace and strengthening collaboration with international partners.”

One survivor recounted being promised a legitimate job opportunity abroad, only to be trapped in a high-security compound and coerced into online fraud under constant surveillance and threats.

“I was promised opportunity and a better life,” the survivor said. “Instead, I lived in fear and was forced to do things against my will. I am speaking out so other Nigerians can recognise the warning signs. No one should go through what we endured.”

Stakeholders at the forum called for intensified public awareness campaigns, tighter scrutiny of overseas recruitment channels, enhanced intelligence-sharing among Commonwealth partners and stronger victim-protection frameworks.

As cyber-enabled trafficking networks expand across borders, Nigerian and UK authorities signalled that survivor-led advocacy will remain central to dismantling scam syndicates and preventing further exploitation.

NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres

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