THE DEFENCE HEADQUARTERS SAYS TROOPS ELIMINATED OVER 100 TERRORISTS, ARRESTED 345 TERRORISTS, AND RESCUED 393 KIDNAPPED VICTIMS IN THE MONTH OF JULY.(PHOTO).

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 The Defence Headquarters says troops eliminated over 100 terrorists, arrested 345 terrorists, and rescued 393 kidnapped victims in the month of July. The Director, Defence Media Operations, Major General Michael Onoja, stated this during the monthly Defence Media Operations briefing at the Defence Headquarters in Abuja. Major General Onoja added that during the period under review, 57 terrorists surrendered, over 1,000 arms and assorted ammunition were recovered, 18 illegal refining sites were destroyed, while 250,500 litres of stolen crude oil and refined petroleum products were recovered. Speaking further, Major General Onoja, on behalf of the Chief of Defence Staff, General Olufemi Oluyede, reaffirmed the Armed Forces' commitment to the protection of lives and property nationwide, and their resolve to ensure that kidnapping, terrorism, secessionist agitation, and other forms of criminality are purged from society.
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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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