Connect with us

General News

Cashless Policy: CBN convinces Senate Panel on N100, 000 Cash Withdrawal Limit

Published

on

CBN Governor, Godwin Emefiele
CBN Governor, Godwin Emefiele

…. Says policy introduced since 2012

As controversies continue to trail the planned policy of the Central Bank of Nigeria (CBN) to limited cash withdrawal for individuals at N100,000 and Corporate Bodies N500, 000 per week, the bank has  succeeded in convincing the Senate Committee on Banking , Insurance and other Financial Institutions of the need for it.

The policy as disclosed by the Deputy Governor of CBN on Financial System Stability, Mrs Aishat Ahmad was introduced in 2012 during former President Good luck Jonathan ‘s administration and extended to Abuja and six other states in 2013.

The CBN Deputy Governor made the disclosure during screening exercise carried out on her and her counterparts on Corporate Services , Edward Lametek Adamu , for re  – appointments by the Senate Committee on Banking , Insurance and other Financial Institutions .

She said cashless policy being fully implemented by CBN now is not new, as required steps in that direction, was taken in 2012 with Lagos State as pilot scheme and Abuja and Six other states in 2013.

She explained that though full implementation of the policy has not been carried out by CBN since then, but its introduction then, has brought a lot of transformation in the banking and payment system.

” Distinguished Chairman of this committee and members, I ‘m happy for the opportunity given to make presentations on planned N100,000 withdraw limit for individuals and N500, 000 for Corporate Bodies per week , beginning from 9th January , 2023 , in line with cashless  policy introduced in 2012 .

” Based on information available to CBN, the time for full implementation of the policy with proposed limit on cash withdrawals per week is now.

” Required infrastructure for its implementation in terms of financial access point system, mobile money, e – naira etc., are available across the 774 local government councils in the country.

” All fears and worries being expressed by Nigerians on the planned limited cash withdrawal policy are seriously being taken care of as nobody or section of Nigerians, will be left out.

” In the past , banking transactions in Nigeria was limited to Bank Branches alone as the only means , which has now expanded into multiple electronic platforms  as well as geometrical increase in the number of agents from 88,000 to 1.4million “, she said.

She however said that the Apex bank is flexible and will be ready to accommodate opinions that won’t make the policy strainous to any category of Nigerians during implementation.

After her presentation, the Committee chaired by Senator Uba Sani (APC Kaduna Central) , gave the two nominees ‘  take a bow and go treatment ‘ as moved by the Whip of the Senate , Senator Orji Uzor Kalu and seconded by Senator Danjuma Goje .

Chairman of the Committee in his remarks said : ” With presentation made by the Deputy Governor of CBN on Financial System Stability , Aisha Ndanusa Ahmad on the planned limited cash withdrawal , required information on the merits of the policy has been given and will be communicated to the Senate in plenary through our report .

” The two Deputy Governors, having earlier been screened before serving their first tenures, need not to again as unanimously agreed by members of the Committee.

” They should therefore take a bow and go “.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift

Published

on

Anglican Church logo

…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”

The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.

In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”

Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.

The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).

The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).

“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.

 

Continue Reading

General News

Anglican Church Urges Government To Prioritize Citizen Welfare

Published

on

Anglican Church in Service

The Primate of the Church of Nigeria Anglican Communion, Most Reverend Henry Ndukuba, has called on political leaders to prioritize the welfare of citizens.

During a recent church service in Abuja, Ndukuba noted that many Nigerians are struggling with challenges brought on by the global economic downturn. He urged state and local governments to implement new initiatives to lessen the impact on their communities.

The Primate also stressed that the federal government must effectively monitor its programs to ensure that Nigerians fully benefit from the nation’s democratic gains. He argued that if the current administration can effectively tackle corruption, the country would significantly benefit from the economic policies of President Tinubu’s government.

Ndukuba concluded by asking the congregation to continue praying for those in authority, remain committed to national unity, and show love and support for the less privileged. He also tasked the newly inducted members of the Church Mothers’ Guild with aggressively spreading the gospel.

Continue Reading

General News

Hardship: A Veil Of Sorcery And Darkness Over Nigeria – Pastor Enenche”

Published

on

Pastor Paul Enenche

Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, has expressed deep concern about the current situation in Nigeria.

Enenche stated that the nation is under an evil spell due to the economic hardship affecting the country. He described Nigeria as being covered by a “blanket of sorcery and darkness,” leading many citizens to endure poverty and hardship in silence.

“There’s a blanket of sorcery and darkness over this nation—an evil spell making people tolerate what should provoke outrage,” he wrote.

In a post on his official X account on Thursday, the cleric highlighted the economic struggles faced by many Nigerians, noting that an increasing number of church members now line up after services not for spiritual counselling or prayer, but to help with basic needs such as rent, school fees, food, and medical bills.

“People are suffering. Pastors are exhausted. Members now queue after service not for prayer, but for assistance,” he lamented.

He also criticised political leaders for their insensitivity and failure to address the dire situation across the country.

“Yet, the leaders act as though nothing is wrong. This is not normal—it is witchcraft. It is a spell of patience in captivity, leading to a demonic tolerance of suffering.”

Calling for divine intervention, Enenche declared, “Let every evil spell over this land be broken! Let those misruling with arrogance and mocking the people’s pain face divine judgment. They shall not see the celebration of their wickedness.”

Continue Reading