General
Politicians Mounting Pressure to Stop CBN Cashless Policy—Groups
By Modupe Gbadeyanka
Some politicians have been accused of working tirelessly to frustrate the cashless policy of the Central Bank of Nigeria (CBN) for their selfish interests.
At a media briefing on Monday in Abuja, the Conference of Nigeria Political Parties (CNPP) and civil society organisations (CSOs) under the aegis of the Coalition of National Civil Society Organisations (CNCSOs) said the reason behind the moves to stop the policy is vote-buying.
During elections, politicians induce voters with cash. This is a practice across most of the political parties in Nigeria. Some offer voters less than N5,000 for votes.
A few days ago, the central bank said from January 9, 2023, Nigerians would only be allowed to withdraw N100,000 per week as cash across the different channels, ATMs, POS terminals and over-the-counter (OTC).
This was kicked against by some lawmakers at the National Assembly, who asked the governor of the CBN, Mr Godwin Emefiele, to appear before them this week for explanations.
At the press conference today, CNCSOs praised the apex bank for the new policy and expressed optimism that the bank would not bow to pressure.
According to the leaders of the two groups, Mr Willy Ezugwu for CNPP and Mr Ali Abacha for CSOs, the cashless policy will tackle corruption in Nigeria apart from vote-buying.
“For the purpose of insight, by law, Section 2 (b) of the CBN Act clearly mandates the Central Bank of Nigeria to solely issue legal tender currency in Nigeria.
“The CBN regulates the volume of money supply in the economy in order to ensure monetary and price stability in line with Section 2 (a) of the Act.
“Specifically, the Currency Operations Department of the CBN is responsible for currency management through the planning, procurement, distribution, processing, reissue and disposal of banknotes and coins.
“It was in the exercise of its unambiguous legal duties in Section 2 of its establishment Act that the CBN in 2012 introduced what is today known as a cashless policy which led to the application of aspects of the policy beginning from January 1, 2012, in Lagos State, which was tagged Cashless Lagos.
“As specified by the CBN as far back as 2012, the cashless policy is aimed at placing Nigeria among the best 20 economies in the world before the year 2020. This is a target that was never met. We’re in 20222. Is Nigeria now among the 20 best global economies? But the CBN informed the world that Nigeria would start changing to a cashless economy by January 2012 and complete the process in 2020 to be among the best economies.
“So, why are people complaining about the timing of the implementation of the new cash withdrawal limits when the CBN is running behind its own scheduled implementation target?
“Only a mischievous person will be complaining about the timing of the review of the cash withdrawal limits because we should be applauding Mr Godwin Emefiele as the CBN Governor for daring to move Nigeria’s economy into the top 20 best in the world after over seven years of stagnancy,” the groups said.
Speaking further, they stated that, “Part of the 2012 cashless policy was conceived to reduce the amount of Naira notes and coins (that is cash) used for business, though not to eliminate their usage in line with Nigeria’s vision 20:2020. If so, why should politicians or anybody be complaining about the current reduction in cash withdrawals even when the CBN is two years behind its own target?
“Also, the cashless policy, among other gains, is to help the central bank and commercial banks better manage our economy to ensure that Nigeria’s monetary policy works.
“Now, is Nigeria’s monetary policy working? The answer is NO! Why, then, are we seeing governors, like that of Adamawa State, talking against the CBN Governor and his management team, who have vowed to speed up the implementation process for a full launch of Nigeria’s cashless policy, two years behind schedule of placing Nigeria among the best 20 economies in the world? It is because many of our current leaders don’t mean well for the country.”
General
UK Strengthens Ties With Kano, Jigawa on Sustainable Development
By Adedapo Adesanya
The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.
The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.
The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.
According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.
In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.
In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.
Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.
Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.
These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”
General
CBN Partners NiMet to Integrate Climate Data Into Economic Planning
By Adedapo Adesanya
The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.
This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.
He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.
He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.
He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.
He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.
General
POS Operators Barred Within 200 Metres of Police Stations
By Adedapo Adesanya
The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.
This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.
The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.
The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.
The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.
Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.
The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.
“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”
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