
News
Cash limits: PoS operators give CBN ultimatum to revise policy
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.
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.’’
News
Security guard kidnaps employer’s two children, demands ransom
A private security guard has escaped with two kids from his employer in Minna, with the police suspecting abduction.
The security guard, named Sani Abdulrahaman, a Fulani by tribe, on Sunday, reportedly took Umaru and Anas, both six years old, on Sallah picnic without the knowledge of their father, Alhaji Danjuma, a businessman, and failed to bring them back home.
The father of the children raised the alarm asking the public and security agencies to help him locate the fleeing security guard and his children.
Danjuma said someone called him on Sunday evening and said he was in Erena forest in Shiroro Local Government Area with the children.
According to him, the caller asked for undisclosed ransom before his children who were in their custody would be released.
When contacted, Niger State Command Police Public Relations Officer, SP Wasiu Abiodun, confirmed the incident, which he said occurred about one o’clock on Sunday, May 31.

Abiodun explained that the security man pretended that he was taking the children for Sallah celebration in the town, but did not return.
He said the police suspected abduction but disclosed that “investigation has commenced and efforts to locate the children are ongoing.”
News
Police arrest suspect behind AI-generated Tinubu voice note
The Nigerian Police Force has arrested Ifechukwu Dennis, the man identified as the originator of an AI-generated voice note that was widely circulated online as a leaked recording of President Bola Tinubu.
Presidential Special Adviser on Information and Strategy, Bayo Onanuga, announced the arrest on Thursday in a post on his official X account.
“The IGP crack team has arrested Ifechukwu Dennis who originated the fake voice that he passed on to his gullible targets as President Tinubu’s voice,” he said.
The arrest closes a week-long controversy that began on May 27, 2026, when a video of social media activist Martins Vincent Otse, popularly known as VeryDarkMan, went viral.
In the clip, an AI-generated voice resembling Tinubu’s was heard making inflammatory statements — including that insecurity in the South-East was deliberate, that he had pressured Peter Obi to step down ahead of the 2023 election, and that he was indifferent to Nigerians’ suffering.
Investigations by multiple news organisations, however, established that VDM had not posted the doctored audio.

An unidentified individual had extracted footage from VDM’s original Instagram video and superimposed the AI-generated voice notes before recirculating the manipulated version online.
Despite this, the Presidency had initially called for VDM’s prosecution.
Onanuga had described the incident as “a clear case of egregious abuse of the social media platform,” drawing criticism after fact-checkers confirmed VDM’s original video contained none of the fabricated audio.
Further details on the circumstances of Dennis’s arrest and the charges he may face were not immediately available at the time of filing this report.
News
Five abducted Kwara worshippers killed, one escapes, others still held
Terrorists have killed five out of the eight worshippers abducted at ECWA Church Omugo in Ifelodun local government area of Kwara state, says one escaped abductees.
Rev Sunday Omole had urged federal government to expedite action on the release of the abductees from the captivity of the terrorists.
The clergyman said government intervention had become necessary after the community paid the terrorists N20 million and provided additional items worth more than N300,000, yet the abductors refused to release the worshippers and instead demanded an additional N300 million ransom.
He added that from the action of the terrorists it was clear that they just wanted to be exploiting the community.
Recall that eight of the worshippers including the Pastor’s wife were kidnapped in the morning of March 22,2026 during a Sunday service.
The death of the five worshippers including the Pastor’s wife was disclosed in a statement issued by the Pastor of the church, Rev Sunday Omole, Wednesday evening.

The statement reads:
“It is with deep pain in my heart that I inform the church, families and individual concerned in regard to the 8 people that were abducted from ECWA OMUGO on 22nd of March, 2026.
“We received one of our son’s, Mr Sunday Bakare also abducted over a month ago, he escaped and brought the following news that only 3 out of 8 of our people are remaining with the kidnappers. The remaining 5 have gone to be with the Lord.
“They are; Elder Chief David Omopariola,
Chief Joseph Ibitoye Afariogun,
Mrs Iyabo Aniyi,
Elder Joshua Akanbi Adeyemi and
Mrs. Rachel Oluwaremilekun Omole(his wife).
“Brethren, let’s know that God knows why He allows this to happen. The great comforter will comfort us in Jesus name, amen.
“The prayers of the saints in the beginning of the church also worked and answered still they had martyrs. John 16:33 says (NIV) “I have told you these things, so that in me you may have peace . In this world you will have trouble . But take heart! I have overcome the world.”
Heaven is our home and Gain. Let’s reason as child of God as we navigate this moment. God bless you, and comfort you all in Jesus name, amen.”concluded the statement.
It was also gathered that the three remaining worshipers are in terrible health condition, while a member of church who escaped from the terrorists captivity is currently receiving an urgent medical attention in a private hospital in OmuAran.
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