Nigeria List Withdrawal Guidelines For Government Accounts
Jan 4, 2023 ·
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Description
The Nigerian Financial Intelligence Unit is set to announce new guidelines on cash withdrawals from all government accounts on Thursday, January 5, 2023. The Director and Chief Executive Officer, NFIU,...
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The Nigerian Financial Intelligence Unit is set to announce new guidelines on cash withdrawals from all government accounts on Thursday, January 5, 2023.
The Director and Chief Executive Officer, NFIU, Modibbo Tukur says because of the consistent devaluation of the naira and the introduction of a new naira policy, section one of the Money Laundering Prohibition Act is automatically activated.
Tukur further stated that most cash withdrawals from government accounts including payments for estacode are often more than the cash withdrawal limit provided by the Money Laundering Act.
He says this exposed innocent public servants to be liable to imprisonment.
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The Director and Chief Executive Officer, NFIU, Modibbo Tukur says because of the consistent devaluation of the naira and the introduction of a new naira policy, section one of the Money Laundering Prohibition Act is automatically activated.
Tukur further stated that most cash withdrawals from government accounts including payments for estacode are often more than the cash withdrawal limit provided by the Money Laundering Act.
He says this exposed innocent public servants to be liable to imprisonment.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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