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CBN to deal with banks imposing ATM withdrawal limits below N20K

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By Kayode Sanni-Arewa

The Central Bank of Nigeria (CBN) has warned that it will deal with banks that force customers to withdraw less than N20,000 per transaction from Automated Teller Machines (ATMs) despite having sufficient funds and requesting a higher amount.

This was disclosed in a Q&A explainer released by the CBN bank following its recent review of ATM withdrawal fees.

The CBN emphasized that ATM charges for withdrawals made from other banks’ ATMs—both on-site and off-site—are based on the expectation that customers can withdraw up to N20,000 per transaction.

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It stated: “Any bank that compels a customer with sufficient funds in their account to withdraw less than N20,000 per transaction, against their desire for a higher sum, would be contravening this regulation and will be sanctioned appropriately.”

The CBN encouraged affected customers to file complaints against banks that impose unnecessary restrictions.

“Consumers denied the right to withdraw up to N20,000 per transaction are encouraged to file a complaint with the CBN using cpd@cbn.gov.ng.”

The CBN further clarified that banks are not allowed to charge more than the prescribed ATM fees, though they can charge less depending on their cost structure and business model.

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“The charges and surcharges are capped, meaning banks and other financial institutions cannot charge more than the fees stated in the circular. However, a bank can charge a lower amount depending on its cost structure and business development drive.”

The CBN advised customers to withdraw cash from their own bank’s ATMs to avoid extra charges. It also encouraged customers to explore alternative payment options such as mobile banking apps, POS terminals, and other digital payment channels to minimize ATM withdrawal fees.

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Nigeria Felicitates with South Africa on 31st Freedom Day Anniversary

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By Gloria Ikibah 

Nigeria has congratulated South Africa on the celebration of its 31st Freedom Day anniversary, marking more than three decades since the end of apartheid rule.

This was contained in a statement issued by the Ministry of Foreign Affairs, on Sunday in Abuja, the Minister, Ambassador Yusuf Maitama Tuggar, extended warm greetings to his South African counterpart, His Excellency Ronald Lamola, Minister of International Relations and Cooperation.

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Ambassador Tuggar described the day as a reminder of the historic victory of democracy over apartheid and a celebration of the resilient and unified spirit that continues to shape South Africa’s journey.

“Nigeria and South Africa share a profound bond forged through decades of solidarity in the liberation struggle. As we reflect on this milestone, we recall Nigeria’s unwavering support for the anti-apartheid movement, including diplomatic, material, and moral contributions that underscored our commitment to justice and the ethos of pan-Africanism,” the statement read.

Highlighting the strong bilateral ties between the two countries, Tuggar emphasized the shared responsibility Nigeria and South Africa have in promoting peace, security, and inclusive development across the African continent.

He noted that as Africa’s two largest economies and democracies, there is a need to strengthen collaboration in areas such as trade and investment through the African Continental Free Trade Area (AfCFTA), as well as cultural exchanges and youth empowerment.

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“Therefore, on this Freedom Day, we stand with South Africa in honouring the sacrifices of heroes like Walter Sisulu, Nelson Mandela, Govan Mbeki, Thabo Mbeki and recommit to working together to realize the vision of a prosperous, peaceful, and united Africa,” he added.

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Enugu Reps caucus backs concessioning of Enugu airport

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The Enugu Caucus in the House of Representatives has thrown its weight behind the Federal Government’s plan to concession the Akanu Ibiam International Airport, Enugu, describing it as a potential catalyst for the Southeast economy.

The caucus commended the Federal Government for the initiative and urged it to hasten the process to enable the people of the Southeast and the nation to benefit from it in earnest.

It also called on the people of the region to support the concession as the only way to guarantee sustainable investment to fully develop the airport into a truly international facility.

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Vatican: Conclave to elect a new pope will start on May 7

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Cardinals will meet next month in a secret conclave to elect the next pope, the Vatican has said.

The closed-door meeting will start inside the Sistine Chapel on 7 May and will involve some 135 cardinals from across the world.

It follows the death of Pope Francis who died at the age of 88 on Easter Monday and whose funeral was held on Saturday.

There is no timescale as to how long it will take to elect the next pope, but the previous two conclaves, held in 2005 and 2013, lasted just two days.

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Vatican spokesman Matteo Bruni said cardinals will take part in a solemn mass at St Peter’s Basilica, after which those eligible to vote will gather in the Sistine Chapel for the secretive ballot.

Once they enter the Sistine Chapel, cardinals must have no communication with the outside world until a new Pope is elected.

There is only one round of voting on the first afternoon of the conclave, but the cardinals will vote up to four times every day afterwards.

A new pope requires a two-thirds majority – and that can take time.

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Each cardinal casts his vote on a simple card that says, in Latin: “I elect as Supreme Pontiff” to which they add the name of their chosen candidate.

If the conclave completes its third day without reaching a decision, the cardinals may pause for a day of prayer.

Outside the Sistine Chapel the world will be watching for the smoke from the chimney.

If the smoke is black, there will be another round of voting. White smoke signals that a new pope has been chosen.

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On Saturday, politicians and royalty joined thousands of mourners as Pope Francis’ funeral was held in St Peter’s Square.

Hymns played out on giant speakers, occasionally drowned out by the sound of helicopters flying overhead, before 91-year-old Cardinal Giovanni Battista Re gave a homily on the pope’s legacy.

After a ceremony, huge crowds lined the streets of Rome to watch as the Pope’s coffin was carried in a procession to his final resting place, Santa Maria Maggiore Basilica.

Authorities said 140,000 people had lined the streets, clapping and waving as the hearse – a repurposed white popemobile – crossed the Tiber river and drove past some of Rome’s most recognisable sights: the Colosseum, the Forum and the Altare della Patria national monument on Piazza Venezia.

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On Sunday images of Pope Francis’s tomb at the church were released showing a single white rose lying on the stone that bears the name he was known by during his pontificate, below a crucifix illuminated by a single spotlight.

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