Only place to get new Naira notes revealed as CBN’s Cash withdrawal limit begins
Reports emerged today that the cash withdrawal limit directive of the Central Bank of Nigeria (CBN) has taken effect as most banks in the country have started dispensing newly redesigned naira notes through Automated Teller Machines (ATMs) nationwide.
Nigerian Tribune reported that as of press time, a few commercial banks have started sending out messages to their customers to ensure seamless compliance.
One of such messages read:” We are happy to inform you that the newly redesigned naira notes are now available at all UBA ATMs nationwide “Please note that the Maximum daily cash withdrawal limit for these notes at the ATMs is N100,000.”
A manager in one of the commercial banks in the Federal Capital Territory, Abuja told the Nigerian Tribune that his bank had no option than to implement the guidelines since the CBN has not issued contrary directive, maintaining that operations at his branch went well without any breach.
The manager who pleaded for anonymity on the grounds that he was not authorised to speak to the media said his branch in Area 11, Abuja complied fully with the CBN directive, and did not record any contravention on the first day as operations went on unhindered.
He stressed that his branch would continue to play according to the regulation, and advised bank customers to also comply with the CBN’s directive to ensure efficient service delivery.
According to him, all customers that transacted financial services business with his branch complied with the new cash withdrawal limits, except for two customers who attempted to withdraw above the limits possibly due to ignorance, but were corrected, and they did not raise any objection.
It will be recalled that the CBN in December 2022 directed deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities per week do not exceed N100,000 and N500, 000, respectively.
However, due to the mixed reactions from Nigerians, the apex bank has since then increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million respectively.
Speaking to journalists after the court hearing at the Lagos State High Court, Ikeja, on Friday, Meranda said that a quorum in the Assembly required more members.
The News Agency of Nigeria (NAN) reports that Obasa and his security details stormed the assembly complex on Thursday and entered the Speaker’s Office.
Obasa also presided over a four-man member after he took the Lagos Assembly and the speaker to court over what he termed as “unlawful removal”.
Meranda told journalists that plenary could only be held when they had numbers that formed a quorum, “so if Obasa was sitting with three or four members, then he was only doing theatre”.
The speaker said that Obasa still held a seat in the Assembly and had the right to come, noting that his invasion to her office was unacceptable.
According to her, I think he is still a member of the House of Assembly so he has every right to come but the invasion and breaking into my office, that is really a big one.
Meranda emphasised that the legal battle was only beginning, and urged all parties to allow the legal teams to handle the matter.
“This is actually just the beginning. Just like what happened in there, both parties have their representatives and I think we should allow the legal team to do their job,” she said.
The speaker, who disclosed that her initially withdrawn security detail was restored, said it was a contrast to the usual level of protection she received.
According to her, presently I have three or four policemen, whereas my normal security details are 12 policemen, four DSS, and two anti-bomb units. But I don’t have up to that presently.
Meranda said the party leadership was taking their own steps in resolving the speakership tussle.
She said: “We are definitely consulting with our leaders and all rightful things will be done at the right time. Let us assure the people of Lagos that we are still committed to our party.
“We are still committed to our leadership and we are still committed to serving the people of Lagos state. That is what is more important.
“I want to assure them that we are very law abiding and we are doing everything within our power just to make sure that we don’t take it more than this level.”
The News Agency of Nigeria (NAN) observed that Obasa was sighted at the assembly complex on Friday with his team while the 35 members that were earlier at the assembly drove out of the premises.
NAN reports that the legislative workers avoided the premises for fear of victimisation. (NAN)
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JUST IN; President Tinubu signs N54.99trn 2025 budget into law
President Bola Tinubu on Friday signed the N54.99 trillion 2025 Appropriation Bill into law at the State House, Abuja.
The bill, which was passed by the National Assembly on Feb. 13, after increasing it from the initial N49.7 trillion submitted by President Tinubu, was signed in a brief ceremony in the President’s office.
The 2025 Appropriation Act represents a 99.96 per cent increase from the 2024 Budget of N27.5 trillion.
The 2025 budget has a total expenditure component of ₦54.99 trillion, statutory transfers of ₦3.65 trillion and recurrent (Non-Debt) expenditure of ₦13.64 trillion.
The capital expenditure component is ₦23.96 trillion, debt servicing of ₦14.32 trillion and deficit-to-GDP Ratio of 1.52 per cent.
Sen. Godswill Akpabio, President of the Senate and other leaders of the National Assembly witnessed the signing of the budget. (NAN)
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Teenage Girl arraigned for allegedly drugging, stealing Boyfriend’s N4 million
An 18-year-old girl, Rukayat Ashiru, on Friday appeared before an Iyaganku Chief Magistrates’ Court for allegedly stealing N4 million cash belonging to her boyfriend.
The defendant is standing trial on a two-count charge of conspiracy and stealing, to which she pleaded not guilty.
The prosecutor, PC Olapeju Durodola, told the court that the defendant and others now at large committed the offences on Nov. 30, 2024, at Mufu Lanihun, at Yidi Agugu in Ibadan.
She said that the defendant allegedly
added a substance to her boyfriend’s drink, one Waris Olamilekan, to make him lose consciousness.
According to her, the defendant stole the money after adding the substance in the complainant’s drink.
Durodola said the offences contravened Sections 390(9) and 516 of the Criminal Code, Laws of Oyo State, 2000.
The Chief Magistrate, Mrs Olabisi Ogunkanmi, admitted the defendant to bail in the sum of N2 million with two sureties in like sum.
Ogunkanmi said one of the sureties must be a property owner within the court’s jurisdiction, while the second surety must be a blood relation to the defendant.
She, thereafter, adjourned the matter until May 26 for hearing.(NAN)