Cashless policy: FG to stop cash withdrawals from all government accounts
The Nigerian Financial Intelligence Unit (NFIU) says the government is planning to stop cash withdrawals from federal, states and local government accounts.
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”.
He said this exposed innocent public servants to being liable to imprisonment.
He added that the NFIU would send an advisory to the Secretary to the Government of the Federation, all governors and local government council chairmen, directing all public servants to open domiciliary and naira accounts ahead of the commencement of the policy which becomes compulsory by law.
He further said governors and local government council chairmen would need to organize training for market men and women on how to use ATM and PoS services.
In the same vein, the NFIU Chief Media Analyst, Ahmed Dikko has refuted the report that the NFIU would block federal government accounts in January 2023
