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Cash limits: PoS operators give CBN ultimatum to revise policy

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The Association of Mobile Money and Bank Agents in Nigeria has expressed optimism that the Central Bank of Nigeria will reverse its cash withdrawal limits policy before the new year.

The AMMBAN National President, Victor Olojo, disclosed to The PUNCH on Sunday that the National Assembly has promised to prevail on the CBN Governor, Godwin Emefiele, to revise the policy.

The new policy by the CBN fixed weekly cash withdrawals for individuals at N100, 000 and corporate bodies at N500,000 weekly.

A Point of Sales (POS)

The directive further said withdrawals above the thresholds would attract processing fees of five per cent and 10 per cent respectively, for individuals and corporate entities effective January 9.

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In addition, third-party cheques above N50,000 shall not be eligible for over-the-counter payment while extant limits of N10 million on clearing cheques still remain.

The PoS operators had in a petition dated December 16, 2022 called on the CBN to review its policy and save 1.4m bank agents from losing their means of livelihood.

But giving an update on the issue, Olojo explained that the assurances given by the CBN and National assembly that POS operators would not be affected by the policy has made the group soft-pedal on its planned legal action.

He, however, warned that if the policy was not reversed before the end of the year, its members would take to the streets to demand its reversal and also drag the apex bank to court.

The PoS operators’ union president said, “We have not gone to court yet because we have gotten assurances and we are waiting for a formal response from the CBN. We have visited the National Assembly and we have also explored other tools at our disposal at this time.

“They have given words of assurance that mobile money and POS operators would not be affected. So, we are waiting for an official statement from the CBN. However, if anything doesn’t change by the end of the year, we will go to the streets to protest and go to court.

‘’Remember that the Director of Banking Supervision, Mustafa Haruna, was quoted on a television station to have categorically stated that mobile money and bank agents would not be affected, so we just want to take that as an assurance while waiting for a formal report. We have written to the CBN but we are yet to get a response.’’

Olojo further hinged his hopes on the assurances by the CBN governor that the policy would be flexible.

“The CBN governor also said they will be flexible, so we are waiting for a revised policy that shows the flexibility. The national assembly also said they will prevail on the governor as they are opposed to the new CBN policy,’’ he noted.

Also commenting on the policy, the Chairman, Nigerian Association of Small and Medium Enterprises, Lagos State chapter, Dr Adams Adebayo confirmed to our correspondent that the association met with the Senate Committee on Banking, Insurance And Other Financial Institutions on the matter last week.

“The Senate committee has assured the Council of MSMEs that the CBN Governor will review it, especially for PoS and small business owners,’’ Adebayo explained.

The CBN spokesman, Osita Nwanisobi, could not be reached for comments Sunday on when the apex bank would announce the review of the policy as calls to his phone indicated he was unavailable.

Commenting on the policy, the President, National Union of Banks, Insurance and Financial Institutions, Abakpa Anthony said it was too harsh, adding that the CBN should have run a pilot system and see the level of compliance before introducing it.

He also argued that as much as the cashless policy would help Nigerians, the nation has not developed to the extent of implementing a full-blown cash limits policy.

The NUBIFI boss said, “The people in the rural areas do not have phones that support online transactions, and in most cases there won’t be a network to consummate transactions.”

He further stated that the ATM and PoS withdrawal limits may throw many Nigerians into poverty and render the POS operators jobless.

”Some cattle dealers who buy and sell in large numbers in the rural areas where there is no network; what will happen to them? When Nigeria is ripe for such policy, Nigerian workers will know.”

Meanwhile, the Special Adviser to Gombe State Governor on Strategy and Information Management, Ahmed Gombe, has said the state government was also opposed to the CBN policy on the grounds that the amount stipulated by the CBN was inadequate.

Gombe was reacting to a report that the NGF was opposed to the cash withdrawal policy and that the 36 state governors planned to meet with the Presidency on the matter.

Speaking in a chat with one of our correspondents, the media aide stated, “The governor of Gombe state supports any Federal Government policy provided it is in the interest of the Nigerian people , especially in Gombe state. At the same time, he also supports any collective decision taken by his colleagues in the best interest of the Governors Forum.’’

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Enugu govt suspends another traditional ruler, gives reasons

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The Enugu State Government has suspended Williams Ezugwu, the traditional ruler of Ibagwa Opi Ogbozalla Autonomous Community in Nsukka Local Government Area, over alleged misconduct.

The Commissioner for Chieftaincy Affairs, Charles Egumgbe, disclosed this in a statement issued in Enugu on Thursday by the ministry’s Public Relations Officer, Emeka Nebeife.

The  state government earlier suspended three traditional rulers and four presidents-general from Ezeagu Local Government Area in July over alleged misconduct related to security matters.

Mr Egumgbe attributed Mr Ezugwu’s suspension to alleged “persistent conduct that is inconsistent with some sections of the Traditional Rulers Law of Enugu State.”

According to the statement, the suspension takes effect immediately.

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The accusations against the royal father included his failure to subscribe to the community’s code of conduct.

He was also alleged to have refused to form a cabinet to help run the community’s affairs since the community’s creation.

Also, he allegedly failed to establish a town union executive, thereby running the community single-handedly.

The commissioner argued that the traditional ruler’s actions could plunge the community into an avoidable crisis, hence the suspension.

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How God saved me from assassination attempt – Abia Gov, Otti

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Appeal court upholds Alex Otti’s election as Abia Governor
Abia Governor, Dr Alex Otti
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Governor Alex Otti Abia State on Thursday night gave a detailed account of his journey into politics, saying that his decision to serve God sustained him through life-threatening political challenges.

Mr Otti spoke at the “Abia Solemn Assembly and Covenant Renewal Service” in Umuahia, organised by the Abia State Government, with the theme, “Remembering the Covenant”.

He took time to give a vivid account of a fatal attack he described as an “assassination attempt” on him.

He said that a friend recently reminded him of events surrounding his journey in politics, particularly an incident in July 2015, which, according to him, could have claimed his life.

Mr Otti recalled that he contested the 2015 governorship election and went to the tribunal to challenge the result when the victory was awarded to the Peoples Democratic Party’s candidate, Okezie Ikpeazu.

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He said he was in Abuja trying to hold a meeting with someone, who repeatedly shifted the dates, until the meeting still did not take place.

Mr Otti said he subsequently informed his friends that he would leave Abuja the next day, despite their objections, since the meeting had not been held.

“There was only one flight from Abuja to Owerri then.

“All my friends objected. I said, well, I have received a message that I must leave Abuja.

“So, to make it make sense, I told them I wanted to be at the tribunal on Friday, so they grudgingly accepted.

“That night, assassins attacked my residence in Abuja, shot two policemen dead, and they were looking for me.

“Of course, God had taken me away,” he said.

Mr Otti said the attackers, after failing to find him, apparently believed he was still within the premises and proceeded to search the adjoining compound.

He said, “When they finished and couldn’t find me. They were convinced I was there.

“They had so much time. By the way, this was Maitama.

“They jumped into the next compound, and I learnt that they were up to 12.

“They jumped into the next compound and stripped the whole building.”

Reflecting on the incident, Mr Otti said there had been no obvious reason for him to leave Abuja at that particular time. Still, he believed that his departure was divinely directed.

“They thought I jumped fence, but I left.

“There was no reason for me not to be there, but God had taken me away from there,” he said.

Otti says ‘friends tried to discourage me from politics’

The governor also recounted how some friends tried to discourage him from entering politics, while others advised him to seek protection through traditional or other means.

“A lot of friends, after trying to dissuade me, found I couldn’t be dissuaded.

“They said, okay, if you decide to do this thing, you can’t go in there empty-handed.

“You can’t go there without belonging to some societies.

“You can’t go there without going to some native doctors for protection, and you will be shocked at the kind of people making these suggestions, some of whom are leaders in churches.”

Mr Otti said, however, that his conviction remained anchored on his decision to serve God, recalling the biblical account in Joshua 24:15.

He said: “But then, I’m always reminded about Joshua 24:15, where Joshua said to the Israelites that ‘If it seems evil to you to serve the Lord, choose you this day whom you would serve’.

“But then he ended that ‘as for me and my house, we shall serve the Lord’.”

He said the lesson from the scripture was that individuals must make a conscious choice about whom they would serve, adding that those who had not made such a decision could still do so.

“So, if you don’t understand why you are here, this is why you are here.

“And, if you have not taken that decision, it’s not too late, because there is no other power,” he said.

Mr Otti further said the experience reinforced his conviction about the path he had chosen, adding that his administration would continue along the path of faith and service.

‘A sacred altar of rededication.’Abia 

The Commissioner for Local Government and Chieftaincy Affairs, Uzor Nwachukwu, said Abia was in captivity for years until God raised Otti.

Mr Nwachukwu recalled that after securing electoral victory in 2023, Mr Otti and his team observed seven days of fasting and prayer to rededicate Abia to God.

He said three years later, it had become necessary to return in thanksgiving for God’s blessings and commit the next political dispensation to Him.

He said, “Through seasons of challenges and triumphs, His faithfulness has remained our anchor in challenging times.

“He held us, broke the chains of stagnation and moved us to where He has promised.

“Human effort alone cannot sustain the prosperity and progress we desire.

“The scripture reminds us that unless the Lord watches over a city, the watchmen watch in vain.

“As we stand on the threshold of a new dispensation, this service is a sacred altar of rededication.”

In his homily, Sam Oye, Lead Pastor of Transforming Church International, commended Governor Otti and his team for achieving milestones within three years.

Mr Oye lauded the administration’s achievements in road infrastructure, healthcare, education, fiscal responsibility and land reforms, but emphasised that more work remained.

Citing Joshua 13:1, Mr Oye said God acknowledged Joshua’s achievements but reminded him that there was still more land to possess.

“The word of the Lord to us on this Covenant Renewal Day is simple: More land to possess. More work to be done.

“More people to be reached. More systems to be reformed. And more potential in Abia to be released.

“Whereas we celebrate all the great things we have accomplished, we are saying we still have so much left undone.

“Our vision must survive personalities, political parties and election seasons.

“The vision must redefine the productive future of each of the 17 Local Government Areas,” Mr Oye said.

He charged the governor to outline industrial and agro-processing corridors, adding, “Our focus must be on strengthening institutions.”

The News Agency of Nigeria reports that the event had the Deputy Governor of Abia, Ikechukwu Emetu, and other top government officials and a team of clerics in attendance

It featured intercessory prayers, a praise-and-worship session, and ministrations and exhortations by clerics. (PremiumTimes)

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Obi vows to make political leaders seek treatment in Nigeria

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Peter Obi donates ₦10 million to Nursing College
Peter Obi
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Presidential candidate of the Nigeria Democratic Congress (NDC) in the 2027 general election, Peter Obi, has vowed to ensure political office holders seek medical treatment in Nigeria if elected President.

Obi also promised to spend his holidays in Nigeria, saying he would promote the use of domestic facilities and local destinations rather than travel abroad for vacations.

He spoke on Thursday in Asaba, Delta State, during the inauguration of the NDC secretariat in the state.

Obi said his administration would prioritise the development of Nigeria’s healthcare system and ensure that political leaders use local medical facilities.

He said: “We will ensure that those of them who are in power must seek medical care here. Anybody that will go abroad will be for referral.”

The former Anambra State governor also criticised President Bola Tinubu’s extended stay abroad, saying Nigerian leaders should remain more connected to the country and its challenges.

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According to Obi, “Today, our President is in France. He went for three weeks and he has spent more than three weeks.”

He added: “As President of Nigeria, all my holidays will be in Nigeria. I will go to Agbor for holiday; I will go to Warri for holidays, not France.”

The Presidency had said Tinubu’s stay in France formed part of his working vacation and that he remained in contact with officials at home while away.

Obi, however, said his administration would “fix” the healthcare system and make it functional for Nigerians.

He also lamented what he described as the neglect of the Niger Delta despite the region’s contribution to the nation’s economy.

“One thing that I can assure you is that the days you don’t see the impact of your wealth is gone. Niger Delta must see the impact of the wealth it is creating for the nation,” he said.

Obi also criticised the condition of the East-West Road and other federal roads in the region.

“You cannot pass anywhere in the Niger Delta, yet they are producing the wealth the country shares every month,” he said.

He promised that an NDC administration would change the situation through what he described as transparent management of public resources.

“We will ensure that this will change and it will change by the way we manage the resources; it will change because we are going to be transparent. We will tell you where every penny is going to,” Obi said.

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