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Abuja Reports

CBN Removes Cash Deposit Limits, Raises Weekly Withdrawal Allowances

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By Adenike Lawal

The Central Bank of Nigeria (CBN), has scrapped restrictions on cash deposits and increased weekly withdrawal limits for individuals and businesses, effective January 1, 2026.

The new rules, issued in a circular titled “Revised Cash-Related Policies” and signed by Dr. Rita Sike, eliminate the cumulative cash deposit limit and the charges previously applied for exceeding it.

Under the revised policy, individuals may now withdraw up to ₦1.5 million weekly, while corporate bodies can access ₦5 million.

Withdrawals above these thresholds will attract excess withdrawal fees as approved by the CBN.

The apex bank also abolished the special monthly approval that allowed individuals and companies to withdraw ₦5 million and ₦10 million, respectively.

ATM withdrawal limits have been expanded to ₦100,000 daily and ₦500,000 weekly, which count toward the overall weekly withdrawal cap.

All denominations of the naira may now be loaded into ATMs.

Excess cash withdrawals will attract charges of 3% for individuals and 5% for companies, shared between the CBN and the servicing bank.

The CBN retained the ₦100,000 over-the-counter limit for third-party cheque encashment, which will also count toward weekly withdrawal totals.

Government revenue accounts and some financial institutions are exempt from specific provisions, but embassies, diplomatic missions, and donor agencies will no longer enjoy previous waivers.

According to the CBN, the reforms aim to curb cash-management costs, strengthen security, and reduce money-laundering risks as electronic payment usage continues to grow nationwide.

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Abuja Reports

FCTA Workers to Shut Offices as Strike Begins Monday

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By Onyeanya Immaculata

Workers under the Federal Capital Territory Administration (FCTA), have announced plans to shut down government offices across Abuja and the area councils as they commence an indefinite strike on Monday, January 19, 2026.

The action, declared by the Joint Union Action Congress (JUAC), is expected to paralyse activities in all FCTA secretariats, departments, agencies, parastatals and area councils, following what the unions described as the authorities’ failure to address long-standing labour and welfare issues.

Confirming the development on Friday, JUAC Public Relations Officer, Holina Adejoh, said workers across all cadres had been directed to withdraw their services.

The strike follows the expiration of a seven-day ultimatum issued to FCTA management on January 7, which the unions said was ignored despite several meetings.

The ultimatum was conveyed in a January 8 notice signed by JUAC President, Rifkatu Iortyer, and Secretary, Abdullahi Saleh.

The unions listed their grievances to include unpaid promotion arrears, delayed promotions, continued extension of service for retired directors and permanent secretaries, non-remittance of pension contributions and National Housing Fund deductions, as well as alleged irregularities in the 2024 promotion examinations.

Efforts to obtain a response from FCTA authorities were unsuccessful, as the media aide to the FCT Head of Office did not return calls as of press time.

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Abuja Reports

FCTA Approves Multi-Billion-Naira Infrastructure Contracts

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By Patrick Idowu

The Federal Capital Territory (FCT) Executive Committee (EXCO), chaired by FCT Minister Nyesom Wike, has approved the ratification of several multi-billion-naira contracts aimed at improving key infrastructure and essential services in Abuja.

The approvals were given at the committee’s first meeting of 2026, held at the minister’s official residence in Life Camp.

Briefing journalists, Executive Secretary of the Federal Capital Development Authority (FCDA), Engr. Richard Yunana Dauda, said EXCO ratified a N3.79 billion contract for the emergency rehabilitation and resurfacing of roads within the Presidential Villa.

He explained that the intervention, handled by Julius Berger Plc, addressed over 30 years of wear on the roads.

EXCO also ratified a N9.8 billion contract for the construction of the Kabusa/Ketti road, completed and commissioned in June 2025. Dauda said the project was fast-tracked to address insecurity and improve access following past kidnapping incidents in the area.

In addition, the committee approved a N1.7 billion emergency contract awarded to SCC Nigeria Limited for erosion control and the restoration of major water transmission lines from the Lower Usuma Dam to avert disruption of Abuja’s water supply.

The Secretary for Education, Danlami Hayyo, disclosed that EXCO also ratified a N62 million facility management contract for the Korea Model School, noting that the FCTA has fully taken over its management to sustain high standards in basic education.

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Abuja Reports

2027: Atiku’s Son Defects to APC, Backs Tinubu’s Re-Election

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By Patrick Idowu 

Abubakar Atiku Abubakar, son of former Vice President and 2023 Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, has defected to the ruling All Progressives Congress (APC), pledging support for President Bola Ahmed Tinubu’s re-election bid in 2027.

The defection was announced on Thursday at the National Assembly, Abuja, where Abubakar, popularly known as Abba, was formally received by the Deputy President of the Senate, Senator Barau Jibrin, alongside APC leaders from the North-East.

Addressing party leaders, Abba announced his resignation from the PDP and declared his decision to join the APC, describing the move as personal and historic. He also directed members of his political platform, the Haske Atiku Organisation, to defect to the APC and mobilise support for Tinubu’s Renewed Hope Agenda.

“I am here today to formally announce my exit from my former party and my decision to join the APC. I will work with Senator Barau to actualise President Tinubu’s second-term bid in 2027,” he said.

Welcoming him, APC National Vice Chairman (North-East), Mustapha Salihu, described the defection as symbolic and far-reaching, saying it reflected growing support for the Tinubu administration’s policies.

Senator Barau hailed the move as bold and principled, noting that Abba was motivated by belief in Tinubu’s leadership and reforms. He assured him of full support within the party.

The event’s highlight was the renaming of Abba’s political structure from Haske Atiku Organisation to Haske Bola Tinubu Organisation, signalling a complete political realignment ahead of the 2027 elections.

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