News
POS operators may return to villages as CBN slashes withdrawal limits
According to a memo issued by the CBN to banks on Tuesday, individuals will only be able to withdraw N100,000 per week (from over-the-counter, point-of-sale machines or automated teller machines), while organisations can access N500,000 per week.The memo signed by the CBN’s Director of Banking Supervision, Haruna Mustafa, directed banks to load only N200 and lower denominations into their ATMs. This means Nigerians will only be able to withdraw N20,000 per day from ATMs when the directive becomes effective.
The memo read, “The maximum cash withdrawal over the counter by individuals and corporate organisations per week shall henceforth be N100,000 and N500,000 respectively. Withdrawals above these limits shall attract processing fees of 5 per and 10 per, respectively.
“Third-party cheques above N50,000 shall not be eligible for payment over the counter, while extant limits of N10,000,000 on clearing cheques still subsist.
“The maximum cash withdrawal per week via Automated Teller Machine shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day. Only denominations of N200 and below shall be loaded into the ATMs. The maximum cash withdrawal via the point of sale terminal shall be N20,000 daily.”
However, there is an exemption that allows up to N5m for individuals and N10m for corporate organisations once a month with certain requirements.
The CBN warned banks that any bank that would aid and abet the circumvention of this policy will attract severe sanctions.
PoS operators kick
Following the new directive, the National President, Association of Mobile Money and Bank Agents of Nigeria, Victor Olojo, has said that point-of-sale operators would plan to protest as the policy was targeted at killing their source of livelihood.
While speaking in an exclusive interview, Olojo disclosed that the newly announced policy would have a negative impact on their business as it translated to the shutting down of PoS terminals.
He said, “This news is just breaking and a lot of PoS agents are already complaining bitterly. Some are calling for protests as this policy, which limits PoS transactions to N20,000, sends them out of business. Hence they have to return to their villages.”
Speaking on the impact of the new policy on individuals and the economy, the president said it would be really tough as Nigeria was still a cash-dominant society.
He said, “Nigerians should brace up, as this is a challenge that CBN is putting out to Nigerians to embrace technology. However, the difficulty would be felt as we still have a lot of transactions done with cash, especially those that are below the pyramid such as the market women and men who are petty traders, because this in essence means that once a bag of rice or flour is to be bought, which is above N20,000, it has to be via e-banking. Looking at it, how many of these people are technology-savvy?
“The CBN wants to achieve an agenda which is not exactly bad. However, a longer notice should have been given to those at the bottom of the pyramid. I believe that, eventually, the adoption would scale and people would have to get acquainted irrespective of the difficulty, embracing it in the long run.
“However, it is still very difficult because the technological infrastructure is still not there yet, and there are those who have had bad experiences with technology as well. The implication of this policy would slow down a lot and affect a lot of things, particularly those earning more than N20,000 daily.”
Olojo noted that his fears and concerns were that the policy was coming at a harsh period when the Nigerian economy was ill-prepared for it. He added that there should be an adequate alternative before any process would be scrapped.
Also, a PoS operator, simply identified as Christian Onyema said, “The new CBN policy will affect our business because pegging daily transaction limit to N20,000 is not helpful for us. For instance, a customer who wanted to transact business came to withdraw N500,000 today, I made my gains and he was able to do his own business. This will no longer be possible by January when the policy takes effect. The economy will suffer and insecurity will rise too because some operators will definitely go out of jobs.”
Another operator who gave his name only as ‘Small’ said, “This will really affect PoS business, a situation where customers can’t withdraw more than N20,000 daily means those who withdraw more than that normally will be limited.”
Transporters react
The Deputy Managing Director of ABC Transport, Jude Nneji, however, lauded the project.
He said, “At least, it will limit some of these crimes. If somebody knows he can’t get cash from you, he won’t bother to attack you. If you also consider the cost of printing this money, you’ll want to use electronic means.”
When asked if this would not affect his transport business, he said, “No doubt, it’s going to encourage people to hoard funds but for people like us whose customers pay through electronic means, we don’t have a problem. However, we hope that government has good intentions too.”
The Chief Executive Officer, Rivers Link, Mr Obinna, said, “This will affect our business, some of us are businessmen and there may be things you want to buy that will be more than N20,000, and some of us may prefer cash, so it will surely affect businesses.”
The Methodist Church Nigeria has honoured the General Manager of the Enugu State Community and Social Development Agency (CSDA), Hon. Monday Diamond Ani, with the prestigious “Apostle of Faith Award” in recognition of his outstanding humanitarian services and contributions to community development.
The award was presented by the Methodist Diocese of Akegbe, Aninri and Awgu Archdiocese (AAA) under the leadership of Rt. Rev. C. Orji, the Methodist Bishop of AAA Diocese, Enugu.
According to the Church, the honour was bestowed on Hon. Ani in acknowledgment of his selfless commitment to community development, social welfare, and humanitarian service over the years. The Church noted that his contributions have transcended political considerations and have positively impacted countless lives across communities.
His consistent humanitarian interventions have earned him the popular title “Odoziobodo”, meaning “one who builds and restores communities.”
Hon. Ani is widely regarded as a passionate advocate for community service, driven by a desire to improve living standards and promote love, unity, and a sense of
belonging among the people. His dedication reflects Christ’s teaching on the greatest commandment—love for God and love for one’s neighbour—placing service to humanity at the centre of purposeful living.
Due to his unavoidable absence, the award was received on his behalf and later presented to him at his office by Dr. Okechukwu Animba, Vice President (South-East) of the Senior Staff Association of Nigerian Universities (SSANU).
Responding to the honour, Hon. Ani expressed profound gratitude to Rt. Rev. C. Orji and the entire Methodist Diocese for recognising his humanitarian efforts. He prayed for God’s continued grace and strength to serve humanity and touch more lives through his work.
He also appreciated his principal, the Executive Governor of Enugu State, Dr. Peter Mbah, for appointing him to lead the CSDA, an agency charged with driving community interventions and sustainable development across the state.
When the Enugu State House of Assembly adopted the report of its Special Committee on Land Matters and Disputes in 2024, many observers described it as a watershed moment in the long-running controversy surrounding the Centenary City land in Amechi and Obeagu communities.
The report attracted national attention because it tackled a dispute that had generated numerous court cases, allegations of intimidation, destruction of property, community unrest, and claims involving some of the most influential figures in the state.
For many residents of Amechi and Obeagu, the Assembly’s intervention provided the first official platform where their grievances appeared to receive impartial consideration. The committee’s findings were widely commended for their detailed examination of the circumstances surrounding the acquisition and development of over 1,097 hectares of ancestral land.
At the heart of the controversy was the allegation that Private Estates International West Africa Limited (PEIWA), operating under a development agreement with the Enugu State Government, relied on questionable documents to assert rights over vast portions of land originally linked to a proposed university project initiated during the administration of former Anambra State Governor, Dr. Jim Nwobodo.
After reviewing submissions from the parties, the Assembly committee identified several inconsistencies in documents connected with the acquisition process. Among its findings were concerns regarding the authenticity of a survey plan purportedly prepared for the “Permanent Site of Enugu State University of Science and Technology” in 1985, despite the fact that Enugu State had not yet been created at that time.
Controversial Enugu Centenary Land: A Daniel Has Come To Judgement
The committee also questioned the authenticity of signatures and official endorsements appearing on key documents, including survey records, gazette notices, and correspondences allegedly executed on behalf of traditional authorities in Amechi and Obeagu communities.
Based on these findings, the committee concluded that the host communities had established that they were not properly carried along in the acquisition process and recommended dialogue, compensation, government intervention, and a comprehensive audit of lands developed under the Centenary City project.
At the time, many hailed the report as evidence that the legislature was willing to confront powerful interests in defence of justice and accountability.
Two years later, events appear to have given fresh significance to those findings.
Today, Kingsley Eze, Chamberlin Mbachu and Private Estates International (W.A.) Limited are facing criminal charges before the Federal High Court, Enugu, in connection with the alleged forgery of a survey plan linked to the disputed acquisition of ancestral lands in Amechi and Obeagu communities.
According to the charge sheet in Charge No. FHC/EN/CR/84/2025, the defendants are accused of conspiring to forge a survey plan titled “Permanent Site of Enugu State University of Science and Technology” purportedly dated 1985.
The prosecution alleges that the defendants knowingly made or uttered the survey plan as a genuine document despite its alleged falsity. The offences are said to be punishable under relevant provisions of the Miscellaneous Offences Act.
The criminal charges have drawn renewed attention to the conclusions reached by the Enugu State House of Assembly in 2024, particularly its observations regarding inconsistencies surrounding the same survey plan and related acquisition documents.
The developments have also prompted further advocacy from civil society organisations. The Rule of Law and Accountability Advocacy Centre (RULAAC) has called on the Inspector-General of Police to direct the Police Monitoring Unit to take over investigations and prosecutions connected with the dispute, investigate allegations of misconduct against certain police officers, and review criminal proceedings allegedly used for harassment and intimidation.
In a separate petition dated May 28, 2026, RULAAC also urged the Inspector-General of Police to intervene in two criminal cases pending before the Federal High Court, Enugu, citing repeated failures by law enforcement authorities to produce defendants for arraignment.
The cases include Charge No. FHC/EN/CR/84/2025, IGP v. Kingsley Eze & 2 Others, and Charge No. FHC/EN/CR/222/2024, IGP v. Alex Ifeadi & 2 Others.
As the criminal proceedings continue, many observers believe the matter has entered a decisive phase. The allegations that were once the subject of community petitions, legislative inquiries and public debate are now before a court of law for determination.
Whether the Assembly’s 2024 report marked the beginning of accountability or merely one chapter in a much longer struggle remains to be seen. What is clear, however, is that the issues raised by the Amechi and Obeagu communities have not faded away. Instead, they have evolved into a legal test that could shape public confidence in land administration, governance and the rule of law in Enugu State for years to come.
If the legislative findings, criminal investigations and court proceedings ultimately converge on the truth, then many residents may indeed conclude that, at long last, a Daniel has come to judgment.
Son of the late head of state and former Minister of Defence, Chief Thomas Aguiyi-Ironsi, in a letter of remembrance and solidarity written on behalf of the Aguiyi-Ironsi family to the Fajuyi family, marking the 60th anniversary of his death, said July 29, 2026, will be a solemn occasion to honour a soldier they described as “a war hero who offered himself as a sacrificial lamb for the unity and integrity of the nation.”
The family recalled that Lt Col Fajuyi, then Military Governor of the Western Region, made the ultimate sacrifice in 1966 when mutinous soldiers abducted him alongside Maj Gen Aguiyi-Ironsi in Ibadan during the military counter-coup.
They stated that Fajuyi, in a defining moment of conscience, chose honour over personal safety and refused to abandon his guest and superior, a decision the family said reflected the highest ideals of loyalty, integrity, and military brotherhood.
According to the statement, his action transformed him into a national martyr whose legacy continued to inspire unity, courage, and selfless service.
The Aguiyi-Ironsi family also expressed sympathy with the Fajuyi family, acknowledging the enduring pain of their loss, while praying for continued strength, comfort, and peace.
The statement further stated, “He did not run. He did not hide. He chose to stand. In that sacrificial decision lay the essence of his greatness.”
The family called on government institutions, military authorities, and custodians of national memory to ensure sustained recognition and support for the Fajuyi family, stressing that his sacrifice remained a national responsibility to remember and honour.
It urged Nigerians to draw inspiration from his life and death, noting that his legacy continues to challenge the nation to uphold unity, courage, honour, and selfless service.
Fajuyi was killed on July 29, 1966, during the military counter-coup in Ibadan alongside Aguiyi-Ironsi.
By Okey Maduforo Awka
The emergence of Chief Ikeagwuonu Ugochinyere as the Minority Leader of the Federal House of Representatives has been described as a vindication of the fact that the Action People’s Party (APP ) represents the collective interests of the Nigerian masses.
Recall that recently, Ugochinyere was elected as the Minority Leader of the party in a keenly contested election of the Federal House of Representatives.
According to a statement by the Chairman Anambra state chapter of the APP Chief Chijioke Okeke, Ugochinyere had been consistent in offering himself as the voice of the people and that of the voiceless.
“It did not come to us as a surprise that our great leader High Chief Ugochinyere became the Minority leader of the Federal House of Representatives because he has always been consistent and focus towards providing himself as the only vent for the masses at the Green Chambers”
“We know his pedegre as a politician as well as a leader and he has remained focus in ensuring that the voiceless are heard and this is also a vindication of our party’s unflinching desire to provide a veritable platform in a democratic process”
Okeke further stated that the fifth columnists who had attempted to deregister the party have been put to shame adding that the party shall continue to champion the interests of the Nigerian people.
“They made failed attempt at deregistering our great party but they lost sight of the fact that the APP is firmely rooted on ground and has all that it takes to drive the wishes and aspirations of the Nigerian populace and with this recent development our traducers have been put to shame and our party is on the path of further greatness “. Okeke noted .
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