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CBN unveils fresh cash withdrawal limits
The Central Bank of Nigeria has released fresh cash withdrawal rules that will take effect in January 2026.
The move ends the special approval that once allowed individuals to take out ₦5 million and companies ₦10 million once every month.
In the circular signed by the Director of the Financial Policy and Regulation Department, Rita Sike, the bank said earlier cash policies were introduced at different times to match changing conditions.
But the bank said that the current financial climate now calls for a clearer set of rules that match today’s needs, reduce the pressure of managing cash, improve safety, and limit risks linked to heavy cash use.
From January 1, 2026, the new limits will allow individuals to withdraw up to ₦500,000 weekly through all channels, while companies will be able to take out ₦5 million.
Anyone who goes above these limits will pay an extra charge of three percent for individuals and five percent for companies.
The fees will be shared between the CBN and commercial banks.
ATM withdrawals will now be capped at ₦100,000 per day, and a total of ₦500,000 per week.
These ATM transactions will count toward the overall weekly limit.
The bank also said ATMs can now hold all naira denominations.
Third-party cheques above ₦100,000 will not be paid over the counter, and withdrawals within that limit will be counted as part of the weekly total.
Commercial banks must file monthly reports on withdrawals and deposits that go above the stated limits and must keep separate accounts for charges collected from extra withdrawals.
The rule does not apply to revenue accounts of federal, state, and local governments.
Microfinance banks and primary mortgage banks are also exempt from the limits and charges.
On the other hand, permissions earlier given to embassies, diplomatic missions, and aid agencies have been withdrawn.
The CBN added that the new circular replaces parts of older instructions listed in its appendices but leaves some earlier rules unchanged.
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Court orders MTN, AIRTEL to resume airtime lending services
In a significant development for Nigeria’s telecommunications sector, two divisions of the Federal High Court have issued interim injunctions restoring airtime lending services and restraining the enforcement of the contentious regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC).
The FCCPC had introduced the controversial Digital, Electronic, Online or Non-Traditional (DEON) Consumer Lending Regulations in 2025 prompting the legal action.
The rulings, delivered in Lagos and Abuja, restored services relied upon by millions of Nigerians and offerred relief to licensed Value Added Service providers caught in the dispute.
In Lagos, Justice A. Lewis-Allagoa on April 15, 2026 granted four interim injunctions in suit marked FHC/L/CS/760/2026, filed by the Wireless Application Service Providers Association of Nigeria (WASPA) against the FCCPC.
The court restrained the commission, its officers and agents from enforcing the DEON Regulations, including several key provisions of the framework.
The court further barred the FCCPC from interfering with the operations of WASPA members, imposing sanctions or fines for alleged non-compliance, or issuing directives connected to the enforcement of the regulations and adjourned to 27 April 2026 for further hearing.
Relatedly, the Federal High Court in Abuja on April 24, 2026 granted an interim order in suit marked FHC/ABJ/CS/779/2026 following an ex parte application by Nairtime Holdings Limited and Nairtime Nigeria Limited against MTN Nigeria Communications Plc and Airtel Networks Limited.
The court restrained both telecom operators, their officers and agents from suspending, restricting or otherwise interfering with Nairtime Nigeria Limited’s access to their platforms, including short codes, SMS, USSD and billing services.
The order applies for the duration of Nairtime’s valid licence issued by the Nigerian Communications Commission (NCC) and prevents the operators from relying on the FCCPC regulations as a basis for any disruption.
The applicants had argued that the planned suspension of services was based on a directive linked to the DEON Regulations, despite their compliance with contractual obligations and the absence of any established breach or required notice.
The court found sufficient grounds to grant interim relief pending the determination of the substantive suit.
Taken together, the two rulings effectively place the enforcement of the DEON Regulations on hold, creating a temporary legal framework that allows airtime lending and related services to continue.
The FCCPC is restrained from acting against VAS providers, while telecom operators are prevented from using the regulations to deny licensed operators access to their networks.
The DEON Regulations, introduced by the FCCPC in July 2025, were designed to extend regulatory oversight to unsecured digital lending, including airtime and data credit services.
However, the move triggered strong opposition from industry stakeholders, particularly the Association of Licensed Telecommunications Operators of Nigeria (ALTON), which argued that the regulations encroached on the statutory mandate of the NCC, created overlapping compliance obligations and conflicted with an existing memorandum of understanding between both regulators.
ALTON had raised these concerns with the NCC as far back as August 2025, warning that unresolved jurisdictional conflicts could disrupt the market.
The current litigation and its consequences appear to have validated those concerns.
Although the rulings provide immediate relief for operators and consumers, they remain interim measures.
The substantive suits before the courts will ultimately determine the legality and scope of the FCCPC’s authority over digital lending within the telecommunications sector. (Guardian)
News
2027: Campaign Quietly Underway as Tinubu Secures APC Forms
By Gloria Ikibah
The path towards a second term for President Bola Ahmed Tinubu has effectively been set in motion after nomination paperwork for the 2027 presidential race was obtained within the ruling All Progressives Congress.
The forms were collected in Abuja by Hon. James Faleke, the member representing Ikeja Federal Constituency, who acted on the President’s behalf. The move followed the official opening of the party’s nomination process by its National Organising Secretary, Suleiman Argungu.
A payment of ₦100 million accompanied the collection, marking a significant early step in what is expected to be a closely watched re-election effort.
The development comes against the backdrop of an already published electoral timetable by the Independent National Electoral Commission, which has mapped out key dates for the next general elections.
Voting for the presidency and National Assembly is fixed for 16 January 2027, while governorship and state assembly elections are to follow on 6 February.
The electoral body has also scheduled party primaries between late April and the end of May 2026, with campaigns for federal-level contests expected to begin in August, and those for state offices in September.
With the nomination process now underway, political activity is expected to gather pace in the months ahead as parties begin to organise internally and position themselves for the contest.
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Just in: Tinubu Picks APC Nomination Forms For 2027 Re-Election Bid
President Bola Ahmed Tinubu has officially taken a major step toward seeking a second term in office after the purchase of the All Progressives Congress (APC) Expression of Interest and Nomination forms for the 2027 presidential election.
The development, which effectively signals the start of his re-election campaign within the ruling party, saw the nomination forms, valued at N100 million, obtained on Tuesday in Abuja by Hon. James Faleke, the lawmaker representing Ikeja Federal Constituency and leader of the Tinubu Support Groups. Faleke acted on behalf of the president during the process.
The APC National Organising Secretary, Suleiman Argungu, formally presented the forms at a ceremony marking the official opening of the party’s nomination activities ahead of the next general election cycle.
The move is widely seen as the beginning of Tinubu’s structured push for another term, coming months ahead of the 2027 general elections.
Meanwhile, the Independent National Electoral Commission (Independent National Electoral Commission) has already released a detailed timetable for the polls. According to the commission, the presidential and National Assembly elections will hold on January 16, 2027, while governorship and State Houses of Assembly elections are scheduled for February 6, 2027.
The electoral body also announced that political parties will conduct their primaries and resolve related disputes between April 23 and May 30, 2026. Campaign activities are expected to commence later in the year, with presidential and National Assembly campaigns beginning on August 19, 2026, while governorship and state assembly campaigns will kick off on September 9, 2026.Politics
President Tinubu, a member of the All Progressives Congress (All Progressives Congress), is expected to face internal party processes before formally emerging as the party’s candidate, even as preparations for the 2027 general elections gradually gather momentum nationwide.
Key political figures involved in the nomination process include Hon. James Faleke (James Faleke), who facilitated the purchase of the forms on the president’s behalf, and APC’s National Organising Secretary, Suleiman Argungu (Suleiman Argungu), who supervised the formal presentation in Abuja.
With the electoral timetable now in place, political activities are expected to intensify in the coming months as parties begin strategizing for what is shaping up to be a highly competitive 2027 election season.
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