General
CNPP Lambasts Critics of New Cashless Policy
By Modupe Gbadeyanka
The new move of the Central Bank of Nigeria (CBN) to sustain its cashless policy in the country has continued to evoke different reactions, and the latest to comment on the matter is the Conference of Nigeria Political Parties (CNPP).
The group, in a statement made available to Business Post, said those against the new cash withdrawal limits do not want the good of Nigeria.
The apex bank issued a circular this week to commercial banks and other financial institutions that from January 9, 2023, individual customers would only be limited to N100,000 cash from over-the-counter and N500,000 for corporate customers.
Also, cash withdrawals from ATMs and POS terminals would be N20,000 per day and N100,000 per week, while withdrawals above the limits would attract a 5 per cent process fee for individuals and a 10 per cent fee for companies.
In addition to this processing fee, customers would have to fill out different forms and obtain approvals from the management of the bank, with details of how the cash would be spent.
While some have praised the CBN for this, others have kicked against the policy, including the National Assembly, which has asked the Governor of the bank, Mr Godwin Emefiele, to appear to explain details of the new directive.
But CNPP feels this is a good policy, as it emphasised that it would deepen democracy as the nation prepares for the next general elections in February 2023.
In the statement signed by its Secretary General, Mr Willy Ezugwu, the CNPP stated that “Nigerians are suffering today because of bad governance and every sacrifice towards getting the right leadership into offices from 2023 is worth it.
“Bad governance is a product of Nigeria’s flawed electoral processes over the years which threw bad and corrupt leaders on the masses. This became the case as a result of highly monetised electoral processes.
“But, any process that will minimize the domination of the Nigerian political space by moneybags and corrupt politicians is worth whatever sacrifices by the ordinary citizens, who bear the brunts of bad governance the most.”
“Secondly, information available in the public domain shows how several millions, if not billions, of naira notes, got mutilated and became of no use where the country’s thieving leaders stashed the cash, thereby denying the economy, especially the banks, the liquidity for productive enterprise.
“Poor fiscal policies in the country over the years are a result of having the wrong persons in public offices due to electoral process that abhors level playing ground.
“Therefore, the CBN should be commended rather than criticised for the fresh cash withdrawal limits.
“Mr Godwin Emefiele, as the CBN Governor, is unarguably the hero of Nigerian democracy and champion of good governance by virtue of the twin policies of redesigning of the naira notes and the reviewed cash withdrawal limits, with perfect timing of the dates for implementations.
“The CNPP urges the President Muhammadu Buhari administration, and by extension, all security agencies and anti-graft bodies to act swiftly to ensure that no politician or highly placed individual influences banks to circumvent the cash withdrawal policy.
“We also call on all well-meaning Nigerians to support the CBN policy on cash control as part of efforts to secure the future of the country, particularly ahead of the 2023 general elections,” the CNPP stated.
General
Dangote Petitions ICPC, Seeks Farouk Ahmed’s Prosecution
By Aduragbemi Omiyale
A petition has been filed against the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Farouk.
The petition was written by the president of the Dangote Group, Mr Aliko Dangote, to the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Mr Dangote asked the agency to look into the finances of the head of the petroleum industry regulator, alleging the man is living far above his legitimate means as a public officer.
In the protest letter filed by his legal counsel, Mr Ogwu Onoja (SAN), the businessman claimed the NMDPRA chief spent over $7 million to educate his children, four in number, in Switzerland.
The petition, dated and submitted on Tuesday, December 16, 2025, and received by the office of the ICPC Chairman, also claimed that Mr Ahmed paid upfront for a six-month period, without any lawful source of income to justify such expenditure.
It also alleged that NMDPRA boss used his office to siphon and divert public funds for personal gain and private interests, actions which he claimed had fuelled public outrage and recent protests by various groups.
“That Engr Farouk Ahmed has grossly abused his office contrary to the extant provisions of the Code of Conduct for Public Officers and, in doing enmeshed himself in monumental corruption and unlawful spending of Public funds running into millions of dollars.
“That Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over 7million dollars of Public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” a part of the petition read.
“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement are gross acts of corrupt practices for which your Commission is statutorily empowered under Section 19 of the ICPC Act to investigate and prosecute,” another part added.
“Any public officer who uses his office or position to gratify or confer any corrupt or unfair advantage upon himself or any relation or associate of the public officer or any other public officer shall be guilty of an offence and shall on conviction be liable to imprisonment for five (5) years without option of fine,” it reminded the ICPC, urging it to act decisively by investigating the allegations against Mr Ahmed and prosecuting him if found culpable, stressing that the matter is already in the public domain, as this would help uphold justice and protect the image of the administration of President Bola Tinubu.
Mr Dangote promised to provide evidence to substantiate his allegations of corrupt enrichment, abuse of office and impunity against the NMDPRA chief when required.
General
Former Chief Justice of Nigeria Ibrahim Tanko Muhammad Passes Away at 71
By Adedapo Adesanya
A former Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad, has died at the age of 71.
Justice Muhammad reportedly passed away at a hospital in Saudi Arabia, about two weeks before his 72nd birthday, which would have fallen on December 31.
His death was confirmed on Tuesday in Abuja by the Bauchi State Governor, Mr Bala Mohammed, in a condolence message issued on Tuesday by his Special Adviser on Media and Publicity, Mr Mukhtar Gidado.
Governor Mohammed noted that Justice Muhammad was a distinguished son of Bauchi State whose life and career were marked by dedication, integrity, and an unwavering commitment to the rule of law.
“The late jurist was a venerable and accomplished legal icon who rose through the ranks of the judiciary with diligence and distinction, serving as a Judge of the High Court, Justice of the Court of Appeal, Justice of the Supreme Court, and ultimately as Chief Justice of Nigeria from 2019 to 2022,” he said.
According to the governor, Justice Muhammad was widely respected for his legal acumen, discipline, and immense contributions to the growth and development of Nigeria’s judicial system.
He added that the conferment of the national honour of Grand Commander of the Order of the Niger (GCON) on the late jurist was a testament to his outstanding service to the nation.
Mr Mohammed extended heartfelt condolences to the family of the deceased, his friends, colleagues in the legal profession, and the people of Bauchi State and Nigeria as a whole.
Also, the Nigerian Association of Muslim Law Students (NAMLAS) lauded the former jurist in its condolence message.
In the statement titled NAMLAS Condolence Message on the Passing of Hon. Justice Ibrahim Tanko Muhammad, GCON, Former Chief Justice of Nigeria, the association described his death as a monumental loss to the Nigerian judiciary and the nation.
“The Nigerian Association of Muslim Law Students receives with profound sorrow the news of the passing of Justice Ibrahim Tanko Muhammad, GCON, former Chief Justice of Nigeria. His demise is a monumental loss to the Nigerian judiciary, the legal profession, the Muslim Ummah, and the nation at large.”
NAMLAS described the late jurist as a towering figure of integrity, humility and unwavering commitment to justice, noting that throughout his judicial career, he exemplified fairness, courage and fidelity to the rule of law.
The association said that as Chief Justice of Nigeria, Muhammad discharged his responsibilities with wisdom and restraint, leaving behind a legacy that would continue to guide generations of legal practitioners.
Beyond his judicial service, NAMLAS highlighted his role as a mentor to young Muslim law students across the country, describing him as a fatherly figure and a source of encouragement.
“To NAMLAS, the late Chief Justice was more than a jurist; he was a fatherly pillar and a source of encouragement to Muslim law students nationwide,” the statement said.
The association extended its condolences to the family of the deceased, the Nigerian judiciary, the Federal Government and the Muslim Ummah, while praying for the repose of his soul.
Justice Ibrahim Tanko Muhammad served as Chief Justice of Nigeria from 2019 until his retirement in 2022.
General
Customs, NMDPRA Strengthen Interagency Efforts Against Fuel Diversion
By Adedapo Adesanya
The Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are strengthening their collaboration to combat the diversion of petroleum products intended for domestic use and to safeguard Nigeria’s energy security.
This renewed partnership was highlighted during a meeting between Comptroller General of Customs, Mr Adewale Adeniyi and the NMDPRA Executive Director of Distribution Systems, Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, at Customs House, Maitama, Abuja.
During the engagement, Mr Adeniyi reaffirmed the service’s commitment to strengthening inter-agency cooperation, particularly in safeguarding Nigeria’s domestic energy security and ensuring that petroleum products meant for local consumption are not diverted to neighbouring countries.
He noted that collaboration between both agencies had already produced measurable results, especially through Operation Whirlwind, which he described as a model for intelligence sharing, joint enforcement and coordinated field operations.
He said the Nigeria Customs Service remains fully aligned with ongoing reforms in the petroleum regulatory space and will continue to provide technical input, operational feedback and border management expertise to support the implementation of new guidelines being developed by the NMDPRA.
He commended the Authority for its efforts to harmonise legacy processes with the Petroleum Industry Act, stressing that clear and efficient export point procedures are essential as Nigeria moves from being a net importer to an emerging exporter of petroleum products.
“We welcome every initiative that strengthens energy security and ensures that the gains made in reducing cross border diversion are not reversed. Our shared responsibility is to protect national interest, support legitimate trade and maintain a transparent system that stakeholders can rely on. We will continue to work closely with sister agencies to achieve these outcomes,” he stated.
In his remarks, the Executive Director, Mr Ukoha, said the NMDPRA enjoys a longstanding and productive working relationship with the Nigeria Customs Service, noting that Operation Whirlwind remained the high point of that collaboration.
He explained that both agencies deployed personnel, exchanged intelligence and jointly monitored petroleum products in border corridors, leading to a marked reduction in cross border diversion.
Ukoha said the purpose of the visit was to brief the CGC on newly developed guidelines for designating export points for petroleum products as Nigeria’s refining capacity expands.
He said the NMDPRA is engaging key institutions, including Customs, the Central Bank of Nigeria (CBN), the Federal Ministry of Industry, Trade and Investment, and the Nigerian Navy, to ensure the guidelines reflect operational realities before implementation.
The NMDPRA executive recalled several field operations and strategic engagements with the Customs leadership, including the joint launch of Operation Whirlwind in Yola, where both agencies reinforced their commitment to curbing diversion and securing the domestic supply chain.
He added that while enforcement had played a major role in reducing irregular movements of petroleum products, the removal of fuel subsidy had significantly reduced the economic incentive for cross border smuggling.
According to him, the authority will continue to work closely with the Customs Service to sustain progress and ensure that petroleum exports are properly regulated without exposing the country to energy security risks.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn












