Saturday, April 18, 2026

CBN Relaxes ATM Limits Amid Pressure on Banking System

By
Kazeem Busari
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The Central Bank of Nigeria (CBN) has announced a sweeping revision of its cash‑handling regulations, scrapping deposit limits and sharply raising weekly cash‑withdrawal ceilings for individuals and corporate customers — in a major policy shift that takes effect from January 1, 2026.

In a circular titled “Revised Cash‑Related Policies,” signed by Dr. Rita I. Sike, Director of the Financial Policy & Regulation Department, the CBN removed the cumulative deposit limit for all customers. The previous fee structure imposed on “excess deposits” will no longer apply.

Under the new framework, individuals may now withdraw up to ₦500,000 weekly across all channels — including ATMs, point‑of‑sale terminals, and over‑the‑counter transactions — a substantial increase from the previous ₦100,000 cap. Corporate entities will enjoy a weekly ceiling of ₦5 million, up from ₦500,000.

ATM withdrawals will also see revised limits: the new policy sets a daily cap of ₦100,000 per customer, with cumulative weekly withdrawals still constrained within the overall ₦500,000 limit.

Where customers withdraw beyond the stipulated limits, the CBN has retained excess‑withdrawal charges — 3 percent for individuals and 5 percent for corporate accounts — to be shared between the CBN (40 percent) and the operating bank (60 percent).

The circular also abolishes the special monthly authorisation scheme that previously allowed individuals and corporates to withdraw larger sums (₦5 million and ₦10 million respectively) once per month. That option will no longer be available under the new rules.

In addition, banks have been directed to load all denominations of naira notes in ATMs — a move intended to improve cash availability across the banking network. The longstanding N100,000 limit on over‑the‑counter cheque encashments for third‑party cheques remains, and any such withdrawals will count toward the weekly cumulative limit.

The CBN says the policy overhaul reflects “present‑day realities,” citing rising costs of cash management, security concerns, and the need to curb money‑laundering risks in Nigeria’s heavily cash‑dependent economy. The previous cash‑limit framework had been introduced in tandem with the earlier naira‑redesign and cash‑limit directives — policies that had, over the years, drawn public criticism for constraining access to physical cash.

Thailand Ends Ban On Afternoon Alcohol Sales

By
Justice Oladapo
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Thailand has officially lifted its ban on afternoon sales of alcoholic beverages, reversing a long-standing public policy that restricted when residents and visitors could legally buy alcohol during daytime hours. The decision, announced by the government on Wednesday, marks a significant change for retailers, consumers, and the hospitality sector across the Southeast Asian nation.

Under the previous regulation, shops and vendors were prohibited from selling alcoholic drinks during certain hours of the day — a curfew meant to curb late-night drinking and related social ills. With the lifting of the ban, convenience stores, supermarkets, bars, and restaurants are once again permitted to sell alcohol throughout the day, a move welcomed by many in Thailand’s vibrant tourism and nightlife industries.

In a statement shared with media outlets, the government said the policy change was part of broader efforts to “modernize regulations, support businesses, and respect adult consumers’ rights,” while continuing to emphasise responsible drinking. A senior official at the Ministry of Commerce, who requested anonymity, said the repeal recognized the changing economic and social dynamics in Thai society, noting that “the ban had outlived its usefulness.”

Local business owners expressed relief at the announcement. One small-shop owner in Bangkok described the ban as “cramping trade” and said that many customers had simply gone elsewhere or delayed purchases until late evening. “Now we can serve customers all day, and that will help our bottom line,” the shopkeeper said. Likewise, representatives of the tourism sector noted the change could boost sales during peak daytime hours, especially among foreign visitors unaccustomed to curfews on alcohol purchases.

However, social critics and public-health advocates urged caution, warning that unrestricted day-time access to alcohol could increase rates of consumption, potentially exacerbating issues like alcohol abuse, traffic accidents, and domestic violence. One community health practitioner remarked that “it’s not just about freedom to buy — we must ensure that with this freedom comes responsibility, education, and stronger enforcement of drinking-age laws.”

The repeal of the ban comes as Thailand recalibrates a range of national policies to adapt to evolving social and economic realities, including recovery in tourism and commerce following the setbacks of the COVID-19 pandemic. For many Thais and expatriates, the move signals a return to greater personal liberty and a nod to modern lifestyles — but for others, it is a cause for renewed vigilance.

Tinubu, National Assembly, Wike Commit N320m to Nigerian Legion

By
Kazeem Busari
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President Bola Tinubu (middle) at the 2026 Armed Forces Remembrance Day Emblem Appeal launch in Abuja

President Bola Ahmed Tinubu on Tuesday pledged N200 million to the Nigerian Legion as the Federal Government reaffirmed its commitment to the welfare of military veterans, injured personnel, and families of fallen heroes. The announcement came during the 2026 Armed Forces Remembrance Day Emblem Appeal launch held at the Presidential Villa, Abuja.

The National Assembly followed with a N100 million donation presented jointly on behalf of the legislature by Senate President Godswill Akpabio and Deputy Speaker of the House of Representatives Benjamin Kalu. The Minister of the Federal Capital Territory, Nyesom Wike, also contributed N20 million on behalf of the FCT Administration.

During the ceremony, President Tinubu, Vice President Kashim Shettima, senior lawmakers, and service chiefs were decorated with the remembrance poppy by Morenike Grace Henry, Chairman of the National Council of the Nigerian Legion. The President used the event to rally public and institutional support for the nation’s veterans, urging Nigerians to give generously to the Legion.

“As a grateful nation, we must honour the fallen, support the wounded, and care for all who answered the call to serve,” President Tinubu said, reflecting on the sacrifices made by service members. “As we honour our heroes, I call on every Nigerian to reject divisive rhetoric and embrace respect, tolerance, and understanding. Our diversity is a national asset that must be projected and cherished.”

The President also praised the military for its successes in counter-insurgency operations, noting substantial progress across different theatres. “Tens and thousands of insurgents have surrendered, key terrorist leaders have been neutralised, and many captives have been freed,” he said, adding that maritime security has likewise improved, with reductions in oil theft, piracy, and illegal fishing.

Tinubu reiterated his administration’s commitment to improving military welfare. “We will continue to improve the welfare of our troops and veterans. My administration has enhanced allowances, upgraded barracks, strengthened healthcare, expanded the Defence Health Maintenance Services Limited, and modernised pensions verifications through BVN and NIN integration.”

Chief of Defence Staff, Lt. Gen. Olufemi Oluyede, appealed to Nigerians to support the emblem initiative, describing it as a symbolic national gesture. “When we wear this emblem, we say to our veterans, Nigeria remembers you. When we support the appeal fund, we affirm that Nigeria cares. When we stand together today, we declare that Nigeria will never abandon those who serve in her name,” he said.

The Permanent Secretary, Ministry of Defence, Richard Pheelangwa, highlighted the significance of Remembrance Day in honouring the courage and sacrifice of soldiers lost in service. He praised the military for securing territories once plagued by conflict. “In many locations once marked by conflict, children have resumed school, markets have been reopened, and families are rebuilding with dignity,” he noted. “Behind every secured territory stand men and women whose courage defines our national character.”

The Armed Forces Remembrance Day, marked annually on January 15, commemorates Nigeria’s fallen soldiers and recognises the service of living veterans.

Tinubu Nominates General Christopher Musa as Defence Minister

By
Kazeem Busari
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Gen. C. Musa

President Bola Ahmed Tinubu has nominated former Chief of Defence Staff, General Christopher Gwabin Musa, as Nigeria’s new Minister of Defence, following the resignation of Alhaji Mohammed Badaru Abubakar on Monday. The nomination was formally transmitted to the Senate in a letter addressed to Senate President Godswill Akpabio.

In the letter, President Tinubu said General Musa is being put forward to strengthen Nigeria’s security leadership and sustain the “ongoing reforms within the nation’s defence architecture.” The President expressed full confidence in the retired four-star general’s capacity to deliver.

“General Musa has served this nation with distinction, courage, and integrity. I am confident he will bring the same commitment to the Ministry of Defence,” Tinubu stated in the correspondence.

General Musa, who turns 58 on December 25, is widely regarded as one of Nigeria’s most experienced military commanders. He previously served as Chief of Defence Staff from 2023 to October 2025, and is a recipient of the 2012 Colin Powell Award for Soldiering — one of the U.S. military’s notable international recognitions for professionalism.

Born in Sokoto in 1967, Musa attended primary and secondary school in the state before enrolling at the College of Advanced Studies, Zaria. He joined the Nigerian Defence Academy in 1986 and graduated in 1991 with a Bachelor of Science degree, after which he was commissioned into the Nigerian Army as a Second Lieutenant.

Over his 34-year military career, General Musa held several key command and staff appointments. These include: General Staff Officer 1, Training and Operations, HQ 81 Division; Commanding Officer, 73 Battalion; Assistant Director, Operational Requirements, Army Policy and Plans; and Infantry Representative, Training Team, Nigerian Army Armour Corps.

He also served as Deputy Chief of Staff (Training/Operations) at the Infantry Centre and Corps; Commander, Sector 3 of Operation Lafiya Dole; and later Commander of Sector 3 Multinational Joint Task Force in the Lake Chad region.

In 2021, Musa was appointed Theatre Commander of Operation Hadin Kai, Nigeria’s largest counter-terrorism and counter-insurgency operation in the North-East. He later became Commander, Nigerian Army Infantry Corps, before his elevation to Chief of Defence Staff by President Tinubu in 2023.

Presidential spokesman Bayo Onanuga, Special Adviser on Information and Strategy, confirmed the nomination in a statement, saying the President believes Musa’s wealth of operational and administrative experience “will further consolidate the progress made in safeguarding Nigeria’s territorial integrity.”

The Senate is expected to screen and confirm the nominee in the coming days. If approved, General Musa will assume leadership of the Defence Ministry at a time when Nigeria continues to confront terrorism, banditry, oil theft, and other complex security challenges.

$4.5bn Fraud trial: Witness Insists Omoile’s Statement Was Given Voluntarily

By
Kazeem Busari
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A prosecution witness, Alvan Gurumnaan, on Tuesday told the Lagos Special Offences Court in Ikeja that Henry Omoile, the co-defendant in the alleged $4.5 billion fraud case involving former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, voluntarily made his statements to the Economic and Financial Crimes Commission (EFCC).

Gurumnaan, an EFCC operative, testified before Justice Rahman Oshodi during a trial-within-trial ordered to determine whether Omoile’s statements were made under duress, as he had claimed through his legal team. Both Emefiele and Omoile have pleaded not guilty to the charges against them.

Emefiele faces a 19-count charge bordering on gratification and corrupt demands during his tenure as CBN governor, while Omoile faces three counts of unlawful acceptance of gifts as an agent.

At the previous sitting on October 9, 2025, the prosecution counsel, Rotimi Oyedepo (SAN), had attempted to tender Omoile’s extra-judicial statements as evidence. However, defence counsel Kotoye Adeyinka (SAN) objected, insisting that the statements were not voluntary — prompting the court to order the current trial-within-trial.

Taking the stand on December 2, 2025, Gurumnaan maintained that EFCC personnel are “trained professionals” who do not extract statements through intimidation or violence.

“The second defendant did not make any statement under duress. Our officers do not force statements through violence,” he said.

“It is the responsibility of the defendant to prove duress where such an allegation is made.”

The witness described the environment in which Omoile gave his statements — the EFCC conference room on the first floor of Block A at the Lagos Zonal Directorate in Ikoyi — as “open and spacious,” adding that it was impossible for anyone to have been coerced.

He added that Omoile had arrived at the EFCC office on February 26, 2024, accompanied by the acting Managing Director of the Nigeria Inter-Bank Settlement System (NIBSS) and his lawyer, E.N. Offiong.

“EFCC operatives are trained to take statements without threat or duress. The statements were taken openly. There is no way we could have done that under threat,” Gurumnaan insisted.

Four statements — three taken on February 26, 2024, and one on February 27, 2024 — were admitted into evidence as Exhibits 1–4.

Gurumnaan also confirmed that Omoile was in EFCC custody at the time the statements were made, but stressed that proper procedure was followed. He testified that Azeez Ajigbotosho, another EFCC officer, administered the cautionary words before the statements were taken, and that Omoile signed each one.

“The statements were signed by the second defendant. He wrote, ‘I am making this statement in the presence of my lawyer, Offiong.’”

He further tendered the EFCC visitors’ register to support his claim that Offiong was present on both days.

Under cross-examination by defence lawyers Olalekan Ojo (SAN) and Adeyinka, Gurumnaan conceded that no video recording of the statement-taking session existed.

“Certain circumstances sometimes make video recordings impossible,” he explained.

The case has been adjourned to January 15 and 16, 2026, for continuation of the trial-within-trial.

Trump Announces Ban on South Africa From 2026 G20 Summit

By
Kazeem Busari
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South Africa President Cyril Ramaphosa and US President Donald Trump

U.S. President Donald J. Trump has announced on social media that South Africa will not be invited to the 2026 G20 Summit, which the United States is scheduled to host in Miami, Florida. In a lengthy statement posted on his official X account, Trump accused the South African government of “refusing to acknowledge or address the horrific human rights abuses endured by Afrikaners and other descendants of Dutch, French, and German settlers.”

The President alleged that white South Africans were being “killed” and that their farms were being “randomly taken from them,” framing the situation as a form of genocide. He further criticised the American media, singling out The New York Times, which he said had “refused to report the truth” about the alleged abuses.

Trump claimed the United States did not attend the recently concluded G20 Summit in South Africa, saying the absence was a form of protest. According to his statement, a representative from the U.S. Embassy attended only the closing ceremony, during which South Africa “refused to hand off the G20 Presidency” to the American delegation — a gesture Trump described as a diplomatic affront.

“Therefore, at my direction, South Africa will NOT be receiving an invitation to the 2026 G20, which will be hosted in the great city of Miami, Florida next year,” Trump declared, adding that the country had “demonstrated to the world they are not a country worthy of membership anywhere.”

He went further, announcing that the U.S. would immediately halt all payments and subsidies to South Africa, although he did not specify which programmes or assistance packages would be affected.

Deep Divisions Persist as US, Russia, Ukraine Prepare New Peace Talks

By
Kazeem Busari
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Russia Presiden Vladimir Putin

As Washington prepares to send a delegation to Moscow next week and Kyiv readies for discussions with U.S. officials, major gaps remain between Ukraine, Russia and the United States on the core elements of a possible peace plan.

Russian President Vladimir Putin said the US-drafted 28-point proposal could serve as a foundation for negotiation, but stressed that no final agreement has been reached.

“Some things are fundamental,” Putin said. “We must sit down seriously and discuss specific issues.”

Ukraine’s presidential chief of staff Andriy Yermak said Kyiv remains committed to achieving a “lasting and dignified peace,” noting that several components of the U.S. plan have already been revised after talks with American negotiators.

However, deep divisions persist over three central questions: whether Ukraine must withdraw from parts of Donbas; whether its military should be capped at 600,000 personnel, and; whether it must legally forgo joining NATO.

Analysts say these disagreements represent long-standing “red lines” for both sides.

“The gap remains wide,” said Chen Yu of the China Institutes of Contemporary International Relations, pointing to conflicting demands over territory, demilitarization and NATO’s future expansion.

With negotiations approaching, both Moscow and Kyiv insist that durable peace will require concessions — but neither appears ready to compromise on their most sensitive security priorities.

Egypt, Qatar, Türkiye Move to Bolster Gaza Ceasefire Implementation

By
Kazeem Busari
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Senior officials from Egypt, Qatar and Türkiye met in Cairo on Tuesday to accelerate efforts to consolidate the Gaza ceasefire and resolve obstacles hampering its implementation.

The talks involved Egypt’s intelligence chief Hassan Rashad, Qatar’s Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani, and Türkiye’s intelligence director Ibrahim Kalin.

According to Egypt’s Al Qahera News Channel, the meeting focused on coordinating with Israel’s Civil-Military Coordination Center to prevent ceasefire violations and ensure the success of the agreement’s second phase.

The discussions follow earlier meetings between Egyptian officials and a Hamas delegation, which reaffirmed commitment to the ceasefire while urging a mechanism to monitor Israeli actions.

Despite the ceasefire, Gaza’s health authorities reported 345 Palestinian deaths and 889 injuries from Israeli attacks since October 11, bringing total casualties since 2023 to nearly 70,000.

Israeli Strikes Intensify in Gaza as Search Continues for Captives’ Bodies

By
Kazeem Busari
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Ruins of Gaza

Israel’s military has intensified air and ground attacks across Gaza as Hamas continues efforts to locate the bodies of two Israeli captives — a Thai national and an Israeli soldier — whose remains are believed to be trapped in tunnel systems.

On Friday morning, an Israeli drone strike killed a Palestinian man in Bani Suheila, while air and naval bombardments hit parts of Khan Younis and Rafah. The intensified strikes come amid stalled progress in the second phase of the Egypt-brokered ceasefire.

Israeli forces said they recovered the bodies of nine Hamas fighters from tunnels in eastern Rafah, bringing the number of confirmed dead fighters trapped underground to more than 30.

A senior Hamas official accused Israel of obstructing attempts to resolve the situation:

“Israel is trying to evade the terms of the ceasefire agreement,” the official told AFP, warning of growing humanitarian risks.

Mediators from Egypt, Qatar, Türkiye and the United States are reportedly discussing proposals that would allow trapped Hamas fighters to exit tunnels through safe corridors.

Israel maintains its stance that militants must either surrender or face military force.

Dillian Whyte in Talks for December Showdown with Okolie in Lagos

By
Kazeem Busari
-

British heavyweight Dillian Whyte is in discussions to face two-weight world champion Lawrence Okolie in a blockbuster fight scheduled for December 19 in Lagos, Nigeria.

Whyte, 37, is seeking a route back into major contention after suffering a first-round defeat to rising star Moses Itauma in August and seeing talks for a trilogy fight with Derek Chisora collapse.

Boxer-turned-promoter Amir Khan confirmed that an official offer has been made to Whyte.

“We’ve offered Dillian Whyte the fight with Lawrence Okolie,” Khan said. “There’s bad blood there and fans have wanted this fight for a long time. We’ve given him a lifeline — a last shot at becoming world champion.”

Okolie, ranked No.1 by the WBC and known for his knockout power, will headline in his first professional bout on African soil. The former cruiserweight and bridgerweight champion is targeting a third world title by 2026.

The Lagos event will also feature heavyweight contender David Adeleye, undefeated knockout specialist Emanuel Odiase, and a highly anticipated all-Nigerian clash between Taiwo Agbaje and Musa Tope Tajudeen.

The card is being promoted as one of the biggest boxing nights ever staged in West Africa.

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