CBN fines bank found hoarding cash N150m - Newstrends
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CBN fines bank found hoarding cash N150m

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CBN fines bank found hoarding cash N150m

The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).

This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.

Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.

A staff member of the CBN stressed that the apex bank would not tolerate such practices.

“The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.

To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.

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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.

“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.

Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country.

Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.

“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.

CBN fines bank found hoarding cash N150m

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Islamic Scholar Barred From Ramadan Tafseer After Criticising Tinubu, Governors

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Jama’atu Izalatil Bid’ah Wa Iqamatis Sunnah (JIBWIS)

Islamic Scholar Barred From Ramadan Tafseer After Criticising Tinubu, Governors

The leadership of Jama’atu Izalatil Bid’ah Wa Iqamatis Sunnah (JIBWIS) has officially suspended prominent Islamic scholar Sheikh Alkali Abubakar Salihu Zaria from conducting his annual Ramadan Tafseer in Damaturu, Yobe State, following controversial remarks he made about Nigeria’s political leadership.

The decision, which has sparked widespread debate across Northern Nigeria, was taken after a high-level meeting of the JIBWIS Council of Ulama led by its National Chairman, Sheikh Muhammad Sani Yahaya Jingir.

Following the meeting, the cleric was barred from continuing his Tafseer sessions at the Mokas Mosque in Damaturu, where he has traditionally delivered Qur’anic interpretations during the holy month of Ramadan.

Reason for the Suspension

According to the Islamic organization, the suspension was based on what it described as a breach of JIBWIS preaching protocols. The council accused the scholar of using inflammatory language and deviating from the organization’s established religious methodology while interpreting the Holy Qur’an.

Leaders of the group stressed that Tafseer sessions are meant to focus strictly on religious teachings, moral guidance, and spiritual reflection, especially during Ramadan, rather than political commentary capable of generating controversy.

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Sermon That Triggered the Controversy

The controversy followed a recent Tafseer session in which Sheikh Alkali launched a strong criticism of the federal government and political leaders in the North over the persistent insecurity crisis, including banditry, kidnappings and violent attacks affecting many communities.

During the sermon, he lamented what he described as the dehumanisation of citizens by bandits and kidnappers, painting a grim picture of victims’ suffering, including abuse during captivity.

The cleric also questioned the relationship between state governors and Bola Tinubu, Nigeria’s president, suggesting that political leaders were showing excessive loyalty to the presidency.

“One of the signs of catastrophes this generation will likely face is the tendency to revere individuals out of fear of their machinations,” he said.

He went further to state:

“Look at how state governors fear Tinubu much more than they fear Allah. If you are in the APC, you are treated like a saint. If you are a member of the opposition, you will be treated like a devil. One will be confronted with trump-up charges. Who is Tinubu? You deceived us. You are a deceiver and cheat.”

Addressing the impact of insecurity, the cleric also described the ordeal of kidnapping victims.

“Today, people are abducted and treated as though they are cattle. They are taken into the bush and ransom negotiations begin. Families plead while victims are beaten and tortured. Sometimes they stamp their feet on their victim’s stomach even during Ramadan,” he said.

Sheikh Alkali’s Reaction

Following the announcement of his suspension, Sheikh Alkali addressed his followers through a message posted on his Facebook page, urging them to remain calm and avoid confrontation with the leadership of the organization.

The cleric maintained a conciliatory tone, emphasizing that his removal from the mosque was part of God’s divine decree and encouraging supporters to accept the decision peacefully.

“To my followers, relatives and associates, I urge you to take heart. This was destined to happen. I cannot exceed the days Allah has written for me to lead Ramadan Qur’anic exegesis in Damaturu,” he wrote.

He also reaffirmed his respect for Sheikh Jingir, describing him as a father figure and urging his followers to remain disciplined and loyal to the leadership of the Islamic organization.

Public Reaction

The development has triggered intense debate on social media and within religious circles, with opinions sharply divided.

Supporters of the cleric praised him for “speaking truth to power” and highlighting the suffering of ordinary Nigerians affected by insecurity.

However, critics argued that the mosque pulpit should not be used for political criticism, insisting that religious platforms must remain focused on spiritual guidance rather than political agitation.

Others say the incident reflects a broader tension in Nigeria over the role of religious leaders in addressing governance and societal issues, particularly in regions facing prolonged security challenges.

Despite the controversy, the leadership of JIBWIS has maintained that its decision was aimed at preserving discipline and maintaining the integrity of religious preaching, especially during the sacred period of Ramadan.

Islamic Scholar Barred From Ramadan Tafseer After Criticising Tinubu, Governors

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Court Orders INEC Chairman to Appear Over Alleged Contempt of Court

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Chairman of the Independent National Electoral Commission, INEC, Prof. Joash Amupitan, SAN
chairman of the Independent National Electoral Commission, INEC, Prof. Joash Amupitan, SAN

Court Orders INEC Chairman to Appear Over Alleged Contempt of Court

The Federal High Court in Abuja has ordered the Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, to personally appear before the court on March 10, 2026, over an alleged contempt of court charge filed by the National Rescue Mission (NRM).

Justice Obiora Egwuatu issued the directive on Wednesday after the INEC chairman failed to attend court proceedings in the matter.

During the hearing, counsel to INEC, Mr. M. S. Bawa, requested an adjournment, informing the court that the commission’s chairman could not attend due to an emergency. He added that the commission had already filed a counter-affidavit challenging the contempt proceedings and urging the court to dismiss the application.

However, the request was opposed by counsel to the National Rescue Mission (NRM), Mr. Oladimeji Ekengba, who questioned the absence of the INEC boss in a matter bordering on contempt of court.

According to Ekengba, contempt proceedings require the accused person to be physically present before the court.

“My Lord, this is a contempt charge that requires the defendant to be present in the dock while the proceedings are ongoing. We wonder why he is not here today,” he told the court.

Following the arguments, Justice Egwuatu ordered that a fresh hearing notice be served personally on the INEC chairman, directing him to appear before the court on the next adjourned date.

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The court had earlier approved substituted service of Form 48, a legal notice warning of the consequences of disobeying a valid court order. The document was ordered to be delivered to any staff member at INEC’s national headquarters in Abuja.

The contempt charge against INEC arose from a judgment delivered by the court on March 5, 2025, which directed the electoral body to recognise the outcome of an emergency convention conducted by the National Rescue Mission on January 17, 2025.

According to the party, the convention produced a new leadership led by Chief Edozie Njoku and was convened to address leadership vacancies and internal imbalances within the party’s National Executive Committee (NEC).

The NRM alleged that despite being aware of the judgment and having been served with the enrolled order, INEC failed to comply with the court’s directive, prompting the party to initiate contempt proceedings against the commission and its chairman.

In court documents, the party argued that Form 48, which warns a party about the consequences of disobeying a court order, had already been served. The next step in the legal process could involve the issuance of Form 49, requiring the alleged contemnor to appear before the court to explain why he should not face punishment for contempt.

Officials of the National Rescue Mission were present in court during Wednesday’s proceedings, led by Chief Edozie Njoku.

Speaking with journalists after the hearing, Njoku expressed confidence that the INEC chairman would eventually comply with the court’s directive and formally recognise the party’s leadership.

He described the legal dispute as a matter concerning respect for the rule of law and the authority of the judiciary, stressing that all public institutions must obey valid court orders.

The case was subsequently adjourned to March 10, 2026, when Prof. Joash Amupitan is expected to appear before the court to respond to the contempt of court allegation.

Court Orders INEC Chairman to Appear Over Alleged Contempt of Court

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MURIC Petitions NASS, Demands Removal of INEC Chairman Over Alleged Anti-Muslim Bias

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Independent National Electoral Commission (INEC), Chairman Prof. Joash Ojo Amupitan
Independent National Electoral Commission (INEC), Chairman Prof. Joash Ojo Amupitan

MURIC Petitions NASS, Demands Removal of INEC Chairman Over Alleged Anti-Muslim Bias

The Muslim Rights Concern (MURIC) has formally petitioned the National Assembly of Nigeria (NASS), calling for the removal of the INEC Chairman, Professor Joash Amupitan, over allegations of anti-Muslim bias.

In a statement issued on Wednesday, March 4, 2026, and signed by its Founder and Executive Director, Professor Ishaq Akintola, the Islamic human rights advocacy group accused the head of the Independent National Electoral Commission (INEC) of exhibiting what it described as “documented anti-Muslim prejudice.”

According to MURIC, Professor Amupitan allegedly authored and circulated an 80-page legal brief on claims of Christian genocide in Nigeria to authorities in the United States. The group claimed the document was later used to indict Nigeria internationally, arguing that it portrayed Nigerian Muslims unfairly and fueled foreign intervention narratives.

The organisation said Islamic groups began demanding the INEC chairman’s removal three months ago but alleged that the Presidency had not responded to their complaints. It further questioned what it called the government’s swift engagement with other interest groups while allegedly adopting a lukewarm approach toward concerns raised by Muslim organisations.

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MURIC warned that the controversy could affect the credibility of the 2027 general elections, stating that allegations of bias might become central in future election disputes. The group maintained that since the Presidency had not acted on its complaints, it was taking the matter to the “court of the people’s representatives” at the National Assembly.

The organisation emphasized that its demand was not based on religious identity but on what it described as a lack of impartiality. It insisted that the INEC chairman could not effectively serve as a neutral referee in an electoral contest involving Muslim candidates and voters, given the allegations against him. At the same time, MURIC clarified that it was not opposed to Christians occupying the INEC chairmanship, noting that previous Christian officeholders had served without objections from Muslim groups.

The group urged lawmakers in both chambers of the National Assembly to investigate the allegations and take what it termed appropriate action to safeguard electoral neutrality in Nigeria.

As of the time of filing this report, neither the Presidency nor the INEC chairman had issued an official response to the renewed call for his removal. The development adds a fresh dimension to ongoing national conversations about election credibility, religious sensitivity, and institutional impartiality ahead of the 2027 polls.

MURIC Petitions NASS, Demands Removal of INEC Chairman Over Alleged Anti-Muslim Bias

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