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CBN Tightens Cash-Withdrawal Limits as Nigeria Accelerates Shift Toward a Cashless Economy

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In a major move that has sparked nationwide debate, the Central Bank of Nigeria (CBN) has introduced new and stricter cash-withdrawal limits for individuals and corporate organisations. Under the updated policy, individuals will now be restricted to withdrawing ₦500,000 per week , while corporate entities will be allowed a maximum of ₦5 million weekly . The announcement comes as part of the apex bank’s ongoing effort to strengthen financial transparency , curb the circulation of illicit funds, and push the country further toward a fully digital and cashless financial ecosystem . As expected, the policy has generated mixed reactions from citizens, financial experts, business owners, and political commentators across the country. Aiming for a Safer and More Transparent Financial System According to the CBN, the new limits were introduced aft iiier careful assessment of the risks associated with high-volume cash transactions. For years, Nigeria has struggled with challenges related t...

Police crush Uber drivers executioner packs, capture seven suspects in Lagos


Recuperate disintegrated assemblage of killed Uber driver


The Lagos State Police Order has destroyed burglary packs focusing on Uber drivers, capturing seven associated individuals with discrete groups.

One of the packs, a four-man bunch, incorporated a US returnee who wounded a Uber rider to death trying to take his Toyota Camry, on Thursday, January 9, 2025.

The suspects as per the Chief of Police Lagos State Police Order CP Olarewaju Ishola, , who advised columnists on the leap forwards recorded by the order between September 2024 and January 10, 2025, at the Order central command, yesterday, requested the ride on Thursday, January 9, 2025, at Chevron in Lekki region.

” Upon arriving at Obalende in a secluded area, they robbed and killed the Uber driver by stabbing him multiple times in the neck. Fortunately, they were unable to steal the vehicle, thanks to the intervention of good Samaritans and passersby. Two suspects were immediately arrested and handed over to police operatives at Lion Building. Further investigation led to the arrest of two more fleeing suspects, in the Chevron area of Lagos. The deceased’s body was deposited at the Mainland Hospital Yaba morgue.

He further uncovered that a comparative capture of the triplet of Edmond Julius, 34, Abdullahi Umar, 32, and Saturday Oke, 40, was made regarding the homicide of another Uber driver three months prior.

As per him, the suspects admitted to grabbing a Uber driver, Oluwaseyi Fowler, in the Ajah region, 90 days prior, denying him of his Toyota Camry vehicle and killing him.

“The suspects sold the stolen vehicle to their receiver and led the police to recover the decomposed body of the deceased and the vehicle.


“This incident marks the third of its kind in three months, with unknown other cases”

CP Ishola advised Uber drivers to carry only one passenger at a time and ensure they were searched, and have them sit in the front seat.

He also announced plans to provide security tips to drivers to prevent them from becoming victims.

Giving an appraisal of the security circumstance in Lagos during the Yuletide season, the order manager evaluated the state as the most reliable in Nigeria.

He revealed that something like 500,000 Nigerians in the diaspora flew into the country through the Murtala Mohammed Global Air terminal to celebrate with their friends and family. Out of this number, he said 90% remained in Lagos, with no hitch.

He said : “It’s on record that Murtala Muhammed International Airport welcomed over 500,000 diaspora Nigerians. Notably, 90% of them chose to stay within Lagos for their celebrations. The reason is clear: Lagos works, and Lagos is safe. As reported on December 30, Christmas celebrations in the city were marked by uninhibited festivities, which continue to this day.

“This was made possible because we followed the directives given by the Inspector General of Police, IGP Olukayode Ebetokun,” he stated. “Comparatively, Lagos is rated the safest state in Nigeria, and we appreciate Lagos State Governor, Mr. Babajide Sanwo-Olu, for his logistics support in the quest to save Lagos’ initiative. I commend my police officers and men for their unwavering commitment to keeping directives and being humane while performing their duties.”.

https://luchiinter.blogspot.com/2025/01/tinubu-approves-20000-medical.html

He further added that between September 2024 till date, various arms and ammunition were recovered. Among them were AK 47 riddled that were taken from police division during the Endsars protest.

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