FG Stops Withdrawing Cash From Public Accounts
On Tuesday, in a statement issued by the director and chief executive officer of the Nigerian financial intelligence unite (NFIU), Modibbo Tukur, declared that the government is planning to stop cash withdraws from the three tiers of government in Nigeria. “Federal,states and local governments
The statement reads,
“because of the consistent devaluation of the naira and the introduction of a new naira policy, section 1 of the money laundering prohibition act is automatically activated”.
Ahmed Dikko, the NFIU Chief Media Analyst, emphasis that Tukur was convinced that most cash withdrawals from government accounts including payments for estacode are often go beyond the cash withdrawal limit provided by the money laundering act.
According to him, this show that innocent public servants are liable to imprisonment.
The NFIU Chief Media Analyst Further explained the institution’s recent development, which includes that the NFIU is developing an advisory to Secretary to the Government of Nigeria, all Governors, and Local Government Council Chairmen to direct all public servants to open domiciliary and Naira accounts ahead of tge commencement of the policy which becomes compulsory by law.
Tukur said certainly, Governors and Council Chairmen will need to organize a form of sensitisation for market men and women on how to use ATM and POS Services.
Moreover, the NFIU Chief Media Analyst, Ahmed Dikko has debunked the news circulating that the NFIU will block Federal Government Accounts in January 2023.
