News
CBN Warns Banks Over Persistent ATM Cash Shortages, Vows Severe Penalties
The Central Bank of Nigeria (CBN) has cautioned banks against ongoing cash shortages at ATMs, vowing severe penalties for non-compliance.
Governor Olayemi Cardoso, speaking at the CIBN Bankers’ Dinner, emphasized the challenges faced by Nigerians due to limited cash availability and announced spot checks to enforce accountability.
Starting December 1, customers can report ATM or branch cash withdrawal issues to the CBN via designated phone lines and emails. Cardoso also urged stakeholders, including mobile money operators and POS agents, to comply with regulations and support digital transactions to improve service delivery.
On foreign exchange, the governor highlighted a missed N6.2 trillion revenue opportunity due to an inflexible FX regime and called for reforms to boost Nigeria’s economic resilience.
Solomon Dalung, former Minister of Youths and Sports, has once again pointed out the presence of a dangerous cabal within President Bola Tinubu’s administration, suggesting they are shaping the decisions and actions of the current government.
Speaking on Arise TV’s The Morning Show on Friday, Dalung emphasized that this influential group was working against the country’s best interests.
Dalung went further to describe the cabal as “dangerous,” claiming their actions are driven by personal gain rather than the welfare of the people or the administration.
He stated, “If you look at the hardship in the country and the president’s reaction, it’s completely a disconnect from the reality we are dealing with.
The cabal’s infrastructure is still effective, influencing the government in ways that go against the president’s intentions.”
He warned that the cabal’s actions, which seem at odds with the president’s plans, are undermining efforts that could have brought positive change to Nigerians.
Their self-serving interests, according to Dalung, are leading to decisions that hurt the nation rather than help it.
Despite revealing his views, Dalung chose not to name the individuals he believes make up the cabal, leaving that task to investigative journalists.
“It’s up to you to dig deeper and uncover the identities of those involved.
I have the right to reserve the names I think are part of the cabal,” he said.
Nigerian Government receives $52.88m from the United States recovered from the Galactica assets. The Attorney-General of the Federation and Minster Of Justice, Lateef Fagbemi revealed that a formal signing ceremony was held for Nigeria and the Unites States on Friday in Abuja.
Fagbemi states that $50 million of the assets will be sent to the World Bank for the rural electrification project, while the remaining money will be sent to the International Institute of Justice to expand the justice system.
The President of Nigeria, Bola Ahmed Tinubu also used the event as an opportunity to address the issue of corruption in the country.
NYSC denies allegations of issuing queries to 200 corps members in Oyo state for missing a Christmas Carol. A statement was released by the NYSC’s spokesperson, Eddy Megwa, addressing the issue at hand.
“The NYSC respects the religious rights of all corps members and remains committed to fostering unity and tolerance.” The spokesperson stated that the queries were given due to the corp members failing tom participate in their CDS (Community Development Service ) activities.
She added that the corp members were not present at their places of primary assignment during the period.
Bringing The Love Back: Tips To Maintaining A Good Relationship With Your Partner
Will You Have a Valentine in 2025? Here’s How to Make It Happen
