He noted that so much money can be spent without it being tracked under the current election financing system in the country. Nigeria Vice President Yemi Osinbajo has declared that cashless monetary policy will go a long way to curb illicit election financing in the country. He submitted that when fully operational, the cashless policy … [Read more…]
Worried by the inflationary consequences of huge public sector cash withdrawals on the nation’s economy, the Nigerian Financial and Intelligence Unit (NFIU), yesterday, outlawed cash withdrawals from all government accounts effective March 1, 2023 warning that defaulters risk three-year jail term. The NFIU declared that such transactions would now be done electronically in line with … [Read more…]
A Federal High Court sitting in Awka, Anambra State, and presided over by Justice N.O. Dimgba, has ruled as discriminatory the cashless policy of the Central Bank of Nigeria on six states of the federation and the Federal Capital Territory. The states are Anambra, Abia, Lagos, Ogun, Kano and Rivers This followed … [Read more…]