News
New cash withdrawal policy not done for political reasons – CBN
The Central Bank of Nigeria (CBN) has said the new cash withdrawal limits policy of the apex bank was done for political reasons.
Naija News reports that the CBN, on Wednesday evening, increased the maximum weekly limit for cash withdrawal across all channels to N500,000 and N5,000,000.
However, there are insinuations that the new policy of the bank apex was done to curb vote buying in the forthcoming 2023 general elections.
But the CBN Deputy Governor in charge of Financial Stability, Aisha Ahmad, has said the new cashless policy was done in the interest of the country and not targeted at anyone.
Ahmad who represented the CBN Governor, Godwin Emefiele said this on Thursday when she appeared before members of the House of Representatives.
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She said the policy will also check money laundering, reduce the cost of processing cash, the cost of minting new notes as well as the cost of destroying old tenders.
Ahmed also explained available data indicate that 94 percent of all cash transaction falls within the new limit of N500,000 and 82 percent of corporate cash transactions fall below the new limit indicated for corporate bodies.
She said the implication is that about 84 percent of individuals will not be affected by the cash withdrawal limit.
Ahmad added that the processing fee on the excess withdrawal will only be charged against the extra cash and not the entire sum.
She said as a result of feedback from Nigerians and the concerns raised by the House, the apex bank raised the weekly withdrawal limit from N100,000 to N500,000.
Outrage as CBN says it doesn’t know quantity of new naira notes printed
Earlier, a lawmaker, Sada Soli during the House session had lamented the non-availability of the new notes to the public days after it was launched and asked Ahmad to disclose the quantities of new notes printed.
Responding, Ahmad said she doesn’t know the volume or amount of new naira notes printed by the apex bank in the newly redesigned country’s currency.
The CBN official declared that she doesn’t know the exact amount and the number of notes printed and doesn’t want to give a wrong figure.
She also failed to answer the question of how much was spent on producing the re-designed naira notes.
Her submission caused a rowdy session among the lawmaker in the Green Chamber of the House.
News
Amnesty Int’l Condemns Canada for Abstaining from UN Slavery Reparations Vote
Amnesty Int’l Condemns Canada for Abstaining from UN Slavery Reparations Vote
Human rights organisation Amnesty International Canada has strongly criticized Canada for abstaining from a landmark United Nations vote on reparations for the harms caused by the transatlantic slave trade, describing the decision as a missed opportunity to uphold justice and defend the rights of people of African descent.
The UN General Assembly resolution, adopted on March 25, formally recognised the transatlantic trafficking and enslavement of African people over more than four centuries as the gravest crime against humanity. Spearheaded by Ghana, the resolution received 123 votes in favour, with three countries voting against—Argentina, Israel, and the United States—and 52 countries, including Canada, abstaining.
Amnesty International Canada and the Black Canadians Civil Society Coalition (BCCSC) welcomed the resolution as a long-overdue acknowledgment of historical truth and a necessary step toward reparatory justice. However, both organisations expressed disappointment that Canada chose not to support the resolution.
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Racial justice campaigner Melak Gebresilassie of Amnesty International Canada said, “Canada’s abstention is deeply discouraging. This was not a neutral act. It was a choice to step back from a moment of accountability, prioritising political comfort over moral clarity.” He stressed that the Canadian government must acknowledge historical wrongs, commit to reparatory justice, and stand in meaningful solidarity with Black communities to promote dignity, healing, and justice.
Hodan Ahmed, co-founder of the BCCSC, added that the resolution is “a powerful, necessary, and long-overdue acknowledgment of truth—one that survivors, descendants, scholars, and activists have demanded for centuries.” She emphasised that such recognition should serve as the foundation for concrete actions addressing the legacies of slavery, including systemic inequalities and discrimination that persist today.
The UN resolution also encourages participating states to explore reparations measures, including apologies, restitution, compensation, rehabilitation, and initiatives to tackle systemic racial inequalities. While non-binding, the resolution represents a critical step toward global acknowledgment of historical injustices and the promotion of international human rights.
Amnesty International Canada and its partners are urging the Canadian government to reconsider its abstention, actively support reparatory initiatives through the UN framework, and work domestically to address persistent anti-Black racism rooted in slavery and colonialism.
International observers have noted that Canada’s abstention risks undermining its moral authority on human rights issues and may signal hesitation to fully engage in the ongoing global dialogue on reparations and accountability.
Amnesty Int’l Condemns Canada for Abstaining from UN Slavery Reparations Vote
News
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested an Abuja-based real estate agent, Hajia Adama Ahmed Adamu, in connection with an alleged ₦288 million property fraud, the agency confirmed on Wednesday.
According to the EFCC, operatives of its Ilorin Zonal Directorate apprehended Adamu following a petition from a complainant, Alhaji Tanko Yawale, who alleged that the agent collected the funds under the pretext of facilitating the purchase of a property at House 31, Haile Selassie Street, Asokoro, Abuja.
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“Following the payment, Hajia Adamu allegedly failed to provide valid property documents and became evasive, raising suspicion and prompting a formal petition to the EFCC,” the commission stated on its official X handle.
Property-related fraud continues to be a recurring concern in Nigeria’s real estate sector, particularly in major cities like Abuja, where unsuspecting buyers often fall victim to agents posing as legitimate intermediaries. In response, the EFCC has intensified enforcement against land and housing scams, urging Nigerians to verify ownership and documentation before making payments.
The suspect is currently in EFCC custody as investigations continue. The commission also reiterated a warning to the public to remain vigilant against fraudulent property schemes and to report any suspected cases promptly.
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
News
Alkali resigns as Transport minister to chase Gombe governor’s seat
Alkali resigns as Transport minister to chase Gombe governor’s seat
The race for Gombe State’s Government House has officially claimed its latest heavyweight contender. Saidu Ahmed Alkali has stepped down from his role as the Minister of Transportation to focus entirely on his 2027 governorship bid.
Alkali’s exit follows a high-profile meeting with President Bola Tinubu at the Presidential Villa on Tuesday.
His departure was formalized via a circular from the Office of the Secretary to the Government of the Federation (SGF), Senator George Akume.
The move is not just about personal timing; it’s about legal compliance. Alkali is adhering to:
* Section 88(1) of the Electoral Act, 2026: Which mandates officials to vacate office before seeking elective posts.
* The INEC Timetable: With party primaries for the 2027 elections looming, the window for transition is closing.
* Presidential Directive: President Tinubu has been firm that any cabinet member eyeing an elective seat must resign before the primary process begins.
Alkali, a veteran politician and former Senator for Gombe North, is now the third member of the Federal Executive Council (FEC) to trade their ministerial portfolio for a campaign trail.
His resignation leaves a vacancy in the Ministry of Transportation at a critical time for the nation’s infrastructure projects, but signals a tightening of the political battlefield in Gombe.
The circular confirming the development was issued by the Permanent Secretary, General Services Office, Ibrahim Kana.
The circular stated that the directive “followed the provisions of Section 88(1) of the Electoral Act, 2026, as well as the timetable released by the Independent National Electoral Commission (INEC) for party primaries ahead of the 2027 election.”
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