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CBN Announces Stricter Cash Withdrawal Rules Ahead of 2026: What Nigerians Must Know

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As Nigeria gradually transitions toward a fully cash-lite economy , the Central Bank of Nigeria (CBN) has unveiled a new set of cash-withdrawal policies that will officially take effect from January 1, 2026 . These fresh rules mark one of the most significant adjustments to Nigeria’s financial landscape in recent years, and they are designed to reduce the cost of cash handling, curb money-laundering, strengthen security, and encourage the use of digital payment platforms . For many individuals, small business owners, corporate organisations, and rural communities that rely heavily on cash transactions, these new withdrawal limits will have a noticeable impact. Here’s a full breakdown of what the new policy means, how it works, and why the CBN believes it is necessary. A New Withdrawal Structure for 2026 Under the new rules, the maximum cash individuals will be allowed to withdraw across all channels— ATM , POS , and over-the-counter (OTC) transactions—is ₦500,000 per week . For cor...

Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)

 

Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)

Mustapha Bala Ali, son of Bala Ali Lukshi, a member representing Dass Local Government in the Bauchi State has been murdered after collecting ransom twice.

 

According to a source the kidnappers abducted Mustapha in Dass, and demanded millions of naira for his release.


The lawmaker told Labari Daga Bauchi on Tuesday, that after paying ransom, the kidnappers told him where he will find his son.

 

"After reaching there, we could not find anyone. We were making phone calls with those people. They collected the money they asked me to bring, but later told me that I submitted the money late and I needed to add more," the lawmaker said although he did not reveal the amount paid.

 

"I was one day late ahead of their deadline because the money was not complete then. They threatened to kill the boy. At that point, I added another money for them as they requested,"  he said.

 

“The last time we spoke was eight days ago, and from then they were not specific in all their conversations. I even pleaded with them that his mother wanted to hear his voice but they failed to connect us with him.”


The lawmaker added that the terrorists at a point told him they have killed his son and subsequently, they refused to pick up his calls.

 

"That is why I asked our Liman to proceed with a funeral service for him even if he will return afterwards. Although I am not certain about his death, I’m hopeless for now." he said. 

 

Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)Update: Kidnappers told me they killed my son after paying ransom twice - Bauchi lawmaker (video)

 

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