OPERATION HADIN KAI FOILS MASS ABDUCTION ATTEMPT AT FGGC MONGUNO. (PHOTOS). #PRESS RELEASE

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 PRESS RELEASE OPERATION HADIN KAI FOILS MASS ABDUCTION ATTEMPT AT FGGC MONGUNO Troops of Operation HADIN KAI (OPHK), in collaboration with personnel of the Nigeria Police Mobile Force (MOPOL), successfully foiled an attempted mass abduction by ISWAP terrorists at the Federal Government Girls College (FGGC), Monguno, at about 0130 hours (1:30 a.m.) on 19 July 2026. The FGGC facility is currently being utilized by the Borno State Government as temporary hostel accommodation for students of the Federal Polytechnic, Monguno. The terrorists reportedly gained access to the facility with the assistance of suspected collaborators in an attempt to abduct students. Alert security personnel immediately engaged the terrorists with coordinated and overwhelming firepower, effectively stalling their advance with Sector 3 Quick Reaction Force (QRF) immediately reinforcing the school. Confronted by the superior combat capability and determined resistance of the security forces, the terrorists were...
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CBN RAISES CASH WITHDRAWAL LIMITS, SCRAPS DEPOSIT CAPS IN MAJOR POLICY SHIFT. (PHOTOS). #PRESS RELEASE.

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 CBN Raises Cash Withdrawal Limits, Scraps Deposit Caps in Major Policy Shift

The Central Bank of Nigeria (CBN) has announced a significant relaxation of its cash withdrawal and deposit regulations, effective January 1, 2026, in a move aimed at improving liquidity and easing the burden on businesses and individuals amid prevailing economic challenges.

In a circular signed by Dr. Rita I. Sike, Director of the Financial Policy and Regulation Department, the apex bank raised the weekly cash withdrawal limit for individuals from ₦100,000 to ₦500,000 across all channels, including ATMs, Point-of-Sale (POS) terminals, and over-the-counter transactions. Corporate entities will now enjoy a higher weekly limit of ₦5 million, up from the previous ₦500,000.

At the same time, all restrictions and processing fees on cash deposits have been completely removed, allowing unrestricted deposits without penalties.

Key Changes Effective January 1, 2026

Weekly cash withdrawal (Individuals)

₦100,000 (all channels)

₦500,000 (all channels)

Weekly cash withdrawal (Corporates)

₦500,000 (all channels)

₦5 million (all channels)

Daily ATM withdrawal

₦20,000 – ₦40,000 (bank-dependent)

Up to ₦100,000 (counts toward weekly limit)

Cash deposits

Caps applied; fees on excess

No limits, no fees

Third-party cheque withdrawals

₦100,000

Remains ₦100,000 (counts toward weekly limit)

Charges on excess withdrawals

Strict enforcement

3% (individuals), 5% (corporates); revenue shared 40% CBN, 60% banks

Special authorisations for large withdrawals

₦5m (individuals)/₦10m (corporates) monthly

Completely discontinued

ATM currency loading

Restricted denominations

All denominations permitted

The CBN stated that the revisions are intended to address current economic realities, including high inflation and liquidity constraints, while maintaining the broader goal of reducing cash dominance in the economy. The policy builds on the 2022-naira redesign and cash-limit framework, which was originally introduced to curb cash hoarding and money laundering.

Banks are now required to submit monthly reports to the CBN on all withdrawals above the new limits and on cash deposit patterns.

More photos below. 




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