FIRE RAVAGES ANAMBRA TIMBER MARKET. (PHOTO).

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 Fire Ravages Anambra Timber Market A fire that broke out late Wednesday night at the Ogbosisi Timber Market in Onitsha, Anambra State, has caused extensive damage to several goods. An X user named Omaletocracy shared footage of the fire, showing traders desperately attempting to salvage their items as the flames spread. The video was captioned: “Head bridge mkt Onitsha is on fire 18/12/2024.” In a statement issued on Thursday morning, Anambra State Police spokesperson Tochukwu Ikenga confirmed that no lives were lost in the blaze. Ikenga further revealed that the area had been cordoned off to prevent looting by criminals. He added, “The quick response of the Police and Fire Service personnel to the fire outbreak at Ogbosisi on 18/12/2024 at 8:45 pm helped to bring the situation under control.” The spokesperson emphasized that an investigation had begun to determine the cause of the fire, although the value of the destroyed goods has not yet been determined.
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CBN LIMITS POS DAILY WITHDRAWAL TO N100, 000.(PHOTO).

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 CBN limits POS daily withdrawal to N100,000


The Central Bank of Nigeria (CBN) has introduced a daily cash-out transaction limit of N100,000 per individual customer for Point-of-Sale agents.

The bank, in a circular to all deposit money banks (DMBs), microfinance Banks, mobile money operators and super-agents, titled ‘Cash-out limits for agent banking transactions,’ explained that the restriction is in line with the apex bank’s ongoing efforts to advance a cashless economy.


“In view of the above, all principals of agents are to comply with the following directives immediately: Issuers shall set a cash withdrawal limit (cash-out) per customer (regardless of channel) to N500,000.00 per week.

“Ensure that all agent banking terminals are set to a daily maximum transaction cash-out limit of N100,000.00 per customer, and ensure that each agent’s daily cumulative cash-out limit shall not exceed N1,200,000.00,” it said.


The CBN said the bank should ensure that agent banking services are clearly demarcated from merchant activities and that agents apply the approved Agent Code 6010 for agent banking activities.

Ensure that agency banking activities are consummated exclusively through agent float accounts maintained with the principals, monitor accounts associated with the agents’ BVN(S) with a view to identifying agent banking activities which may be conducted outside the designated float account(s).

“Ensure that all agent terminals are connected to a PTSA and ensure that all daily transactions per agent, including withdrawals, limits of transactions and balances in the float accounts of each agent, are sent electronically to NIBSS as a report to the CBN. The template of this report will be sent to principals,” it added.

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