New Banking Rules: How the CBN’s withdrawal limits affect you

The Central Bank of Nigeria has released new rules on cash withdrawals and deposits across the country. The announcement was made in a circular signed on December 2, 2025, by Dr. Rita I. Sike, Director of the Financial Policy and Regulation Department.

The CBN explained that the changes were necessary to reduce the high cost of managing cash, improve security in transporting money, and limit the risks of money laundering in an economy where many people still depend on physical cash.

The bank said that previous cash policies were introduced to handle economic challenges at different times, but the situation has now changed, making it important to update the rules.

Deposit Limit Removed

The CBN has completely removed the limit on cash deposits. This means customers can now deposit any amount of money without paying extra charges. The bank believes this will encourage more people to bring money into the banking system and increase overall liquidity.

New Withdrawal Limits

The CBN has also introduced new weekly withdrawal limits:

Individuals: Up to 500,000 per week across all channels — ATMs, POS, and over-the-counter.

Corporate organisations: Up to 5 million per week.

If anyone withdraws more than these limits, they will be charged:

3% fee on the excess amount for individuals

5% fee on the excess amount for companies

The fees will be shared between the CBN (40%) and the customer’s bank (60%).

Special Waivers Cancelled

The special monthly withdrawal allowances 5 million for individuals and 10 million for companies have been cancelled. These waivers will no longer be available.

The CBN said the aim of all these changes is to reduce the use of cash and encourage more people to use electronic payment options, which are safer and easier to track.

According to the CBN, these changes are aimed at making cash management safer and more efficient, encouraging more people to use electronic payments, and ensuring the banking system remains secure and well-funded in today’s economy.

Four killed as bandits, police gunfire tear through Kogi Community

By Richard Elesho

A fresh wave of violence struck Irunda, a farming community in Yagba East Local Government Area of Kogi State, on Wednesday, leaving four people dead in two separate but connected incidents involving bandits and police operatives.

The tragedy began in the early hours when armed bandits stormed the village, opening fire and killing two vigilantes who were part of local security efforts.

The attack heightened fear and anger among residents, prompting youths to take to the streets in protest.

Tension escalated when security operatives arrived at the scene.

According to eyewitness accounts, frustration grew as officers hesitated to pursue the fleeing attackers. The hesitation reportedly triggered a confrontation between the youths and the police.

The situation quickly spiralled out of control. In the ensuing chaos, police fired shots, killing two additional residents and injuring several others. Tear gas was also deployed, leaving more people hospitalised.

A community leader, the Bobagunwa of Irunda Isanlu, Chief (Engr.) David Oni Sunday, explained the sequence of events to journalists.

He said the community was already distressed from the bandits’ attack when the police arrival further aggravated tensions.

He said that two vigilantes were killed by the bandits, while two youths were “mistakenly shot” by the police amid the confrontation, adding that more residents were injured by tear gas.

Confirming the incident, Kogi State’s Security Adviser, Commander Jerry Omodara (rtd.), described the development as unfortunate but emphasised that the government was intensifying its campaign against criminal elements.

He said security forces had recently neutralised several bandits hiding around mining sites in the area and would continue operations until all criminal groups are dismantled.

Omodara noted that a helicopter had been deployed days earlier as part of coordinated efforts to flush out attackers.

He maintained that the Kogi State government would not tolerate criminality and remains committed to restoring peace in vulnerable communities.

The latest attack adds to growing concern over persistent insecurity in Yagba East, where bandit incursions, kidnappings and clashes have become increasingly frequent, leaving residents anxious and demanding stronger protection.

How I got chased off Headies red carpet in 2008- MI

Nigerian rapper Jude MI Abaga has opened up on an experience he had in the early stage of his career, where he was chased off the red carpet of The Headies Awards.

MI, while speaking Vbyz TV Cartel, revealed that he was chased off to make space for Nollywood actress Omotola Jalade-Ekeinde.

The rapper claimed that despite being nominated for the category of ‘Best Rap Single,’, the staff at the event did not recognise him and ‘shuffled’ him off to a corner.

“I have been grinding and no one cares about who I am. In February 2008, I remember I was walking into the crowd with my manager, Omotola also came in with her security. The people on the red carpet didn’t even know I was nominated, so they were just like ‘Common get out of here’. So we went to stand at one other corner and because Omotola was moving from side to side to take her picture, they kept chasing us from place to place. I was just looking at stardom,” he recalled.

MI revealed that he sis not let that experience get to him, adding that he later won the award he was nominated for later that night.

“Two hours later, I was announced as the winner for ‘Best Rap Single,’ I had an award in my hand, a gold plague from Ayo Animashaun,” he added.

P2P Trading Platform: Why Flexibility Wins in the Digital Economy

The modern financial world is marked by rapid change, but one principle remains constant: people seek flexibility. The P2P trading platform has risen to prominence precisely because it adapts to the shifting needs of global users. It is not only a tool for buying and selling cryptocurrencies but also a system that empowers individuals to set their own terms, choose their own payment methods, and access global markets without the constraints of centralised institutions.

The Shift from Central Control to Individual Choice

Traditional financial systems are built around intermediaries that manage every aspect of a transaction. Centralised exchanges replicate this model in the digital world, controlling liquidity, fees, and access. A P2P trading platform turns this idea on its head. Instead of one central authority setting the rules, buyers and sellers interact directly. They decide the price, negotiate payment, and finalise trades with the support of escrow protection. This decentralised structure offers something centralised systems cannot: the freedom to adapt to individual circumstances.

Local Payment Methods as a Global Advantage

One of the most powerful features of a P2P trading platform is the ability to integrate with local payment methods. In Africa, this may mean mobile money transfers. In South Asia, it might be region-specific wallets or bank deposits. In Europe, it could involve SEPA transfers or card payments. By accommodating these diverse systems, peer-to-peer platforms unlock access for people who might otherwise remain excluded. This adaptability is what transforms them from niche tools into essential components of financial life.

Security and Reputation: Building Trust Between Strangers

Sceptics often question how safe it is to trade directly with another person. The answer lies in the layered security mechanisms that underpin the P2P trading platform. Escrow services ensure that funds are only released when both sides fulfil their obligations. Reputation systems allow users to assess the reliability of potential partners before initiating a deal. Two-factor authentication, encryption, and dispute resolution add further confidence. In practice, these systems mean that strangers can complete transactions with a level of safety that rivals traditional financial services.

Use Cases Beyond Simple Trading

The peer-to-peer model is not limited to speculative trading. Its value becomes clear in everyday scenarios. Migrant workers frequently turn to a P2P trading platform to send money across borders quickly and cheaply, avoiding the high fees of money transfer companies. Freelancers use it to receive payments from international clients and convert them into local currency without delay. Small businesses rely on peer-to-peer networks to accept crypto payments and integrate them into their operations. These examples prove that peer-to-peer platforms serve as functional, real-world solutions, not just trading experiments.

Challenges in Regulation and Education

Despite their strengths, peer-to-peer systems face significant challenges. Regulatory pressure is growing, with governments seeking to enforce anti-money-laundering and know-your-customer rules. A P2P trading platform must strike a delicate balance between maintaining user privacy and complying with local laws. Another obstacle lies in user education. Newcomers often underestimate the risks of phishing scams or fake offers. Platforms are responding with tutorials, guidelines, and stronger verification tools, but widespread awareness is still needed to ensure safer participation.

The Road Ahead: Innovation Through Adaptability

The future of peer-to-peer trading lies in its ability to evolve. As decentralised finance expands, integration between P2P platform systems and lending, staking, or cross-border commerce is likely to deepen. Artificial intelligence will play a greater role in fraud detection, while new payment options will further extend reach. Importantly, the cultural and social side of trading will also grow, as communities of traders form networks based on trust and shared experience.

The P2P trading platform is more than a financial tool; it is a flexible framework that adjusts to local realities while connecting users to global opportunities. Its success stems from its ability to combine autonomy, security, and accessibility in one system. In a world where financial landscapes shift faster than ever, flexibility is not just a convenience — it is the foundation of lasting participation.

2,000 PDP members defect to APC in Kebbi

By Ibrahim Bello

Citing what they described as giant strides the state governor, Nasir Idris more than 2,000 members of the Peoples Democratic Party (PDP) in Danko-Wasagu Local Government Area of Kebbi on Tuesday defected to the ruling All Progressives Congress (APC).

The defectors were formally received on Tuesday by the State APC Chairman, Alhaji Abubakar Kana-Zuru in Birnin Kebbi.

Speaking on behalf of the defectors, the former PDP House of Assembly candidate, Alhaji Arzika Lawal, said their decision was driven by Gov. Nasir Idris’ giant strides in securing the locality.

” We are more than 2,000 PDP members leaving the party to join the APC in recognition of the Governor’s tireless efforts in bringing back a safe environment to Danko-Wasagu,” he said.

Lawal praised the governor for facilitating the release of the students abducted from the Government Girls’ Comprehensive Secondary School, Maga, describing his intervention as swift and compassionate.

He, however, appealed to the APC leadership to caution some aides of the governor, decrying that they were not reflecting the governor’s compassionate style of governance.

” Some of the governor’s aides are not following his footprints.

“They are not helping their people, and the party must bring them to order,” he said.

On her part, Mrs Binta Bena, a political singer, lauded the governor’s performance, saying that security in the area had significantly improved under his administration.

” The three years of Gov. Idris have been more beneficial to the people of Kebbi than the eight years of the previous administration,” she opined.

Bena added that the residents who were hitherto living in fear were now enjoying a 24-hour security surveillance following the permanent deployment of troops in strategic locations.

Receiving the defectors, Kana- Zuru, assured them of equal treatment within the party.

” The party has received you wholeheartedly.

” From today, you are like all other members of the APC.

“I have instructed party executives at the ward and local government levels to engage and consult with you in all party affairs,” he said.

Kana-Zuru also highlighted Idris’ unwavering commitment to infrastructural development, particularly the ongoing construction of the Koko-Dabai Federal Road. (NAN)

Serena Williams responds to rumors of returning to Tennis

Former American Tennis player, Serena Willians, has reacted to the rumors of her returning to Tennis, three years after her retirement.

The rumors which were fueled by her registration with the International Tennis Integrity Agency’s testing pool, was debunked by the 44-year-old.

Serena on her X handle on Tuesday, stated that she is not going back to the sport.

“Omg yall. I’m NOT coming back. This wildfire is crazy,” she wrote.

The spokesperson for ITIA, however, revealed that Serena asked to be reinstated into the testing pool.

“She has notified us that she wants to be reinstated into the testing pool. I do not know if this means she is coming back, or just giving herself the option. All I can say is she’s back in the pool.” Adrian Basset told The Athletic.

FCT Police busts notorious car- snatching gang, recover 6 vehicles, over N15m cash

By Ayorinde Oluokun/Abuja

Police operatives in FCT have arrested four members of a notorious gang of car-snatching syndicate with recovery of seven stolen vehicles and N15 million.

SP Josephine Adeh, Police Public Relations Officer, FCT Police Command revealed this in a statement on Tuesday said the suspects were arrested with the aide of credible intelligence and digital forensic reconstruction in Abuja.

According to the statement, three of the vehicles were recovered by Jabi, Gwagwalada and Mabushi Divisions while the Command’s Scorpion Squad subsequently expanded the investigation, leading to the arrest of additional suspects, recovery of more vehicles, and the seizure of over 15 million cash.

Adeh listed the recovered vehicles to include include: a black Toyota Prado SUV, 2008 model, Reg. No: RSH 967 JJ, recovered by Jabi Division; a grey KIA Optima, 2009 model, Reg. No: RMY 88 AA, recovered by Mabushi Division; a grey Toyota Corolla, recovered by Gwagwalada Division; a grey Toyota Corolla, Reg. No: JUX 890 AA, recovered by the Scorpion Squad; ash-coloured Toyota Camry (pencil-light), Reg. No: APR 459 AE, recovered by the Scorpion Squad and a black Toyota Corolla, Reg. No: 578 AA, recovered by the Scorpion Squad.

According to the statement, the investigations by police operatives led to the arrest of four members of the car-snatching syndicate identified as Dalhatu Bashiru (an ex-convict), Nwadigo Emmanuel, Uchenna Kalu, and Alhaji Jazuli Adamu

Also, the principal receiver of the stolen cars, Alhaji Jazuli Adamu, was arrested in Fagge LGA of Kano State with 15,280,000 (Fifteen Million, Two Hundred and Eighty Thousand Naira), money intended for the latest batch of stolen vehicles.

Adeh added that further findings revealed that Adamu works closely with an accomplice, Alhaji Abdulkarim Gabeida Ibrahim, a citizen and resident of the Niger Republic, who coordinates the resale of stolen vehicles in Niger Republic.

She added that the Nigerien is currently at large, and efforts are ongoing to apprehend him.

All suspects and recovered exhibits are in police custody as investigations continue to track down other fleeing members of the gang.

“The Commissioner of Police, FCT Command, CP Miller G. Dantawaye, psc, commended the officers for their dedication to securing the FCT. He urged vehicle owners to install functional car trackers to aid quick recovery when necessary and encouraged residents to support police operations by providing credible information,” through the Command’s emergency lines: 08032003913, 08061581938,” the FCT Police Command spokesperson said.

HoganHost expands African presence with official KeNIC accreditation

HoganHost, the rapidly rising African cloud hosting and domain solutions company founded by Joseph Effiok Hogan and Atim Hogan, has officially been accredited by the Kenya Network Information Centre (KeNIC).

This accreditation recognises HoganHost as an approved registrar for .ke domain extensions, firmly expanding the company’s services into East Africa.

The KeNIC accreditation highlights HoganHost’s ongoing commitment to strengthening Africa’s digital infrastructure.

It also signals the company’s readiness to support millions of Kenyan businesses, startups, and organisations looking for fast, secure, and affordable online services.

“This milestone shows the hard work and investment we are putting into Africa’s digital future,” said Co-Founder Joseph Effiok Hogan.

Atim Hogan added: “Our goal is to make HoganHost the number one choice for hosting and domain services across the continent.”

Over the past year, HoganHost has gained significant traction across Africa due to its reliable cloud hosting, powerful VPS and dedicated server options, affordable domain pricing, and 24/7 customer support. The company continues to roll out new technologies and upgrades tailored to African markets.

The KeNIC accreditation further strengthens HoganHost’s mission to build a unified digital ecosystem for Africa, ensuring businesses in Kenya and beyond have access to world-class hosting backed by local understanding and support.

White House reacts to Sabrina Carpenter’s remark on deportation video

The White House has reacted to a remark given by American singer Sabrina Carpenter over using her song for a deportation video.

The singer on her X handle, regarded the video has evil and disgusting, adding that her songs should not be used such videos.

“Do not ever involve me or my music to benefit your inhumane agenda,” she wrote.

bigail Jackson, the spokesperson for the White House, however, responded to the request with a statement, stating that they will not be apologizing for their act. The White House in their response, made us of Sabrina’s lines from some of her songs.

“Here’s a Short n’ Sweet message for Sabrina Carpenter: we won’t apologize for deporting dangerous criminal illegal murderers, rapists, and pedophiles from our country. Anyone who would defend these sick monsters must be stupid, or is it slow?,” they wrote.

Right decision, wrong reason: On the scrapping of the mother-tongue education policy

By Olufemi Taiwa

I have been monitoring the many reactions to the announcement of a momentous change in public policy on November 13, 2025, by the Honorable Federal Minister of Education of Nigeria, Dr. Tunji Alausa. According to the minister, the federal government has scrapped, countrywide, the policy that mandated that schools teach our children in primary schools or the first three years of basic education in our respective mother-tongues. The preponderant reaction has been condemnatory. I hasten to point out that at least one commentator has welcomed the reversal in this report.

Much has been made of the irony involved in the announcement being made at a gathering on Language in Education hosted by the British Council in Abuja. This, for many, was emblematic of the colonial mentality that continues to afflict us sixty-five years after independence. Shame on us, many conclude, that we continue to be under the thumb of colonialism and daring to reject our inheritance while promoting that of our erstwhile colonisers.

A graver reaction that excoriates the minister and the government he works for turns on the insistence that language is the quintessence of our sheer humanity and our very identity when it comes to our respective human tribalisms, be those Yoruba, English, or Mongolian.

I am in full agreement with those who accuse the minister of a singular lack of self-awareness respecting the aegis under which he announced the momentous decision. It is the graver objections that I wish to address in this discussion. I am convinced that this is one of those situations where we are summoned to careful consideration and deep thinking before reacting to the scrapping of the policy under reference.

I would like to submit that the decision to scrap the policy of using mother-tongues in basic education is the right one. But, doubtless, it is based on the wrong reasons. In the rest of this piece, I challenge us to examine whether our much-ballyhooed–if some of the responses to the announcement are any guide–commitment to basic education in our mother-tongues rests on any solid ground beyond talk and our usual practice of investing in symbols while failing to give any serious thought to substance.

It is quite laughable of the minister to give as his reason for scrapping the policy the poor performances of students in various post-primary examination regimes conducted in the English language. Additionally, he suggests that our need to accelerate the expansion of science and technology’s footprints in our public life is being hampered by the policy. As all critics have pointed out, the minister has not offered serious evidence of the causal connection he assumes between the said poor performances and mother-tongue-inflected basic education. Unfortunately, in a similar lack of self-awareness, as afflicts the minister, many critics, too, who criticize him for not providing evidence to support his indictment of mother-tongue education have likewise not provided any evidence of mother-tongue education’s refutation of the minister’s assertion. They, instead, continually refer to the Six-Year Primary Education Project that was designed and executed by the Faculty of Education at the old University of Ife, now Obafemi Awolowo University, Ile-Ife, Nigeria, in the late sixties of the last century. Yes, later studies did confirm that no harm was done but I do not recall any big claim, short of extending its scope and moving on to secondary levels, regarding it being a huge causal factor in explaining the success of its recipients at higher levels. What is of moment is that this mutual engagement in evidence-less positions is not a promising way to go. Let us now go into our main case for the claim that it is the right decision albeit motivated by the wrong reasons. I would not like to be misunderstood. I remain as committed as anyone else to having our mother tongues become central to not only our education system but also to our life in general–economic, social, political, name it! Any attempt to misread what I argue here as a lack of interest in, or support of mother-tongue education will be a mischief or sheer lack of understanding.

Let us be clear. There is no doubt that the ability to use language is one quality that sets us apart from our fellow inhabitants of the animal kingdom. But it is utterly fallacious to insist that any of humanity’s tribal tongues make its inheritors human. Conversely, it is no less fallacious to say that to deny us access and ability to use our tribal language takes away our humanity. I am arguing that what makes us human is the ability to use language, simpliciter. The adjectivized human that results from our acquisition of specific tribal tongues remains exactly that. That is, what language we use does not constitute our sheer humanity, only that language’s specific iteration of it. This fallacy has enjoyed too much unchallenged reign for too long. It is time to rest it. No, stopping Nigerian children from going to school in the language of their respective human tribe does not detract one bit from their humanity! Yes, it may impair their functioning as members of their original tribe but it, simultaneously, enables them to assume functioning membership of other tribes of humanity. They remain human.

What is more, there is no greater testament to the unicity of humanity than the fact that humans become very proficient in languages other than the ones they were born or originally socialized into for any number of reasons–migration, adoption, etc.–without having their human status eviscerated in any significant way. Even enslaved people who were turned into chattel in north America deployed that defining human capacity for acquiring and using language to become co-owners and often enough better users of the enslavers’ tribal language and turn it into some of the most profound accounts of what it is to be human and this they did while referring back to their original African antecedents for complex identities. I conclude, based on the preceding, that the humanity of not a single Nigerian child is in danger of diminution, much less loss, on account of their not having access to the languages of their respective tribes. I am, for the purposes of this discussion, ignoring the presence of the demographic made up of those Nigerian children for whom English is their mother tongue! Amilcar Cabral is more plausible on this score when he makes two points that need to be better known and appreciated when it comes to the matter of language and its place in our lives. Contrary to the “language is humanity” orthodoxy we just repudiated, Cabral argues that “language is an instrument that man created through labour, through struggle, in order to communicate with others.” If Cabral is right–he is not alone in this as many in the field from linguistics to philosophy would attest–then our argument should be about how well our chosen language serves this primary function. It needs be stressed that communication involves much more than conversation, singing, and liturgies. They also involve our communicating our explorations of the secrets of nature, both inside and outside us. In other words, language is pivotal in our engagement with science as the best tool to unravel nature and its ways.

This is what informed Cabral’s very startling claim concerning the legacy of Portuguese colonialism in his country. “We have to have a real sense of our culture. Portuguese [the language] is one of the best things that the tugas [the local term for Portuguese] left us, because language isn’t evidence of anything, but an instrument for men to relate with one another, a means for speaking, to express realities of life and the world.” This is the crux of our case here.

Once we get past the anxieties about identity that dominate the thinking of our intellectuals–definitely, not of ordinary folk–we can see how and why the termination of a policy that was built on nothing more than vapour and ideological self-deception plus a large dose of identitarian braggadocio may turn out to be the pause we need to take a hard look at what we are not doing.

How serious are we about mother-tongue education even at the most basic level in Nigeria? To start with, the unseriousness of the policy is easily seen in the reality that it is built on a WAZOBIA model of the country and the concurrent disenfranchisement of the hundreds of other mother tongues that dominate Nigeria’s linguistic space. Does any of the minister’s critics ever spare a thought for the fate of the country’s myriad so-called minor languages? Did anyone ever seriously consider that there was basic education in Edo, Urhobo, Itsekiri, Igala, Nupe, Gbagyi, Kamberi, or Efik, while the policy lasted? Or should we persist in the imperial begging of so-called minor cultures across the land?

The situation is much worse than we care about or permit ourselves to think. Our formal education model at the present time requires much more than colloquial competence in our languages and orality to deliver it. Yet, once we get beyond the so-called major languages, how many of the remaining languages have scripts that can be deployed in instruction at the most basic level of education? Meanwhile, as far as I know, no government at any level in our country has any programmes dedicated to creating scripts for the many non-major languages in our land. Should this not bother us if we are serious about mother-tongue education? The shame lies in the fact that the only organization that continues to invest huge sums of money and other resources into creating scripts for some of our so-called minor languages is the Bible Society of Nigeria. No doubt, we can adapt their scripts to wider pedagogical purposes beyond religion and for this, we ought to be grateful to the Society.

A few years ago, Algeria decided to replace French with English as the second official language in their land. At the same time that this declaration was announced, 5,000 teachers of English were introduced into the education system. There you have a country that is in earnest about its education and the language in which life is delivered not to talk of communication across board beyond the education system. I wish I could say the same about us. When several years ago, a Lagos State governor decreed that all students in the state’s schools should learn Yoruba, it offered me an opportunity at that time to ask the questions that I am now willing to share with a larger audience beyond the friend to whom I originally offered them. The questions are now more urgent in light of the current situation. I do not recall that governor announcing at that time the introduction of a new cohort of teachers of Yoruba into the education system to facilitate the widespread tuition in the language that his policy would entail. I may have missed calls by those who are now fulminating about the scrapped policy asking the governor then: how was his policy to be delivered? And Yoruba is one of the so-called major languages! I concluded then that that directive was a feel-good, “let’s promote our culture” proclamation built to fly on pneumatic power!

That is not even the worst part of it. Had our culture and mother-tongue promoting governor been willing to flood the system with teachers, I submit that he would have had to conjure them. How many graduates of Yoruba language and literature do we produce annually? Of those, how many go into the teaching profession? It may be time to do a census of how many graduates of Yoruba we produce annually and how many of those can we, going forward, expect to go into teaching? Meanwhile, we must simultaneously have some sense of how many students will need tuition in the language and at what levels annually so that we can begin to think about reward procedures to encourage otherwise reluctant students to take a chance on teaching Yoruba as a preferred career. When we shall have established these figures, we hit the biggest problem of all: what resources, e.g., scholarships, do we provide for those who may want to take the plunge but do not think it is prudent to go into debt for such a course of study? How many of our critics of the scrapping of the policy would gleefully embrace their wards who tell them of their desire to study Yoruba in college? My take on the scrapping of the ill-conceived mother-tongue basic education policy is that it allows us the opportunity of a RESET, a needed pause to ask hard questions of how badly we handle issues of the gravest importance because we are easily swayed by symbol while we shun substance or refuse to let it get in the way of empty kudos for wishes that are no more than pure gas! I wish the preceding were the reasons adduced by the minister for the policy change. They would have offered better reasons for what, I remain convinced, is the right decision.

Professor Olufemi Taiwa teaches at the Africana Studies and Research Center, Cornell University, Ithaca, New York, U.S.A. He can be reached at .