BREAKING: FG Set To Ban Cash Withdrawals From All Government Accounts

FG is set to ban Cash Withdrawals from All Government Accounts as new naira notes roll out.

 

NewsOnline reports that the Nigerian Financial Intelligence Unit (NFIU) says the government is planning to stop cash withdrawals from federal, state, and local government accounts.

ALSO: World Bank Names Those CBN Naira Redesign Will Affect Most In Nigeria (List)

 

This online news platform understands that Modibbo Tukur, director/chief executive officer (CEO), NFIU, disclosed this in a statement on Tuesday.

He said, “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”.

 

More details soon….