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CBN Issues Dec. 1, Ultimatum Against Banks, ATM Delays

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The Central Bank of Nigeria (CBN) on Friday advised bank customers to report any difficulties withdrawing cash from bank branches or ATMs to the apex bank from December 1.

CBN Governor, Olayemi Cardoso, said this during the 2024 annual bankers dinner in Lagos organised by the Chattered Institute of Bankers of Nigeria (CIBN)

He urged customers to make reports through designated phone numbers and email addresses for their respective states.

Cardoso, who was coffered fellowship of the CIBN, said the guidelines would be distributed widely to raise public awareness.

He called for full regulatory compliance by all stakeholders, including Mobile Money Operators and PoS Agents, to promote digital transaction channels and improve service delivery.

“We also recognize the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians.

“To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.

“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states.

“I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties,” he said.

According to him, the CBN will continue to maintain a robust cash buffer to meet the country’s needs, particularly during high-demand periods such as the festive season and year-end.

The CBN governor said the focus was to ensure seamless cash flow for Nigerians while fostering trust and stability in the financial system.

He explained the Payment System Vision initiative for 2025 to further enhance confidence in the nation’s payment system.

He assured that payment gateways in settling financial transactions will become better in 2025 as delays will be addressed.

Cardoso said that trust was fundamental to fostering digital transactions, and CBN must take every necessary step to preserve that trust in payment systems.

He said delays often disproportionately affect vulnerable segments of the population, adding that CBN would apply penalties on non-compliant institutions to safeguard consumer trust and ensure swift redress mechanisms.

He said in 2025, CBN would prioritize initiatives including implementing open banking framework, advancing contactless payment systems, and expanding its regulatory sandbox.

“Additionally, we will issue revised guidelines for agency banking and continue to strengthen electronic payment channels”.

He also disclosed that Nigeria would exit the grey list on the Financial Action Task Force (FATF) by Q2 of 2025 while reeling out enforcement plans against money laundering, cybercrime, fraud, corruption, among others.

Prof. Pius Deji Olanrewaju, President/Chairman of  the Chartered Institute of Bankers of Nigeria (CIBN), said that 2024 had been an eventful year for the banking industry and the economy.

He said various policies and regulations of the apex bank and the federal government had begun to yield fruit.

“For example, the Nigerian economy continues to be more resilient and agile as shown in the steady growth from 2.98 per cent in Q1 to 3.19 per cent in Q2 and now 3.46 per cent in Q3 of 2024.

“Likewise, the Nigerian banking industry has also shown resilience this year despite the macroeconomic pressures such as rising inflation, and exchange rate fluctuations, amongst others.

“The bank recapitalization exercise also attests to the fact that we are well on our way towards not only strengthening the financial sector but also supporting a $1 trillion economy envisaged by 2030,” he said.

Also, Dr Ibrahim Stevens, Governor of the Central Bank in Sierra Leone praised efforts of the CIBN and Nigeria’s apex bank yielding positive fruits in Africa and globally.

He called for collaboration towards building a sound financial eco system. (NAN)

NEWS

Defections To APC Is Driven By Tinubu’s Performance – Governor Otu

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From Ene Asuquo, Calabar 

Cross River State Governor, Senator Bassey Otu, has maintained that the growing wave of defections to the All Progressives Congress (APC) is propelled by the sterling performance of President Bola Ahmed Tinubu rather than political calculations.

In a statement issued by his Chief Press Secretary, Mr.

Nsa Gill, Governor Otu described the entrance of Governor Oborevwori into the APC as not just a political move but a thoughtful and courageous response to the growing aspirations for a better Delta State, a more prosperous Niger Delta, and a stronger Nigeria.

Governor Otu emphasized that Cross River, which for years stood as the lone APC-governed state in the South-South, now proudly shares the progressive banner with Delta and Edo States, marking a new dawn of strengthened political realignment in the region.

“An increasing number of South-South states under APC governance is a dream realized,” Governor Otu remarked, highlighting President Tinubu’s transformational leadership that has inspired trust, value reorientation, infrastructural rebirth, and economic rejuvenation across the nation.

Describing the mass defection led by Governor Oborevwori — with former Governor Senator Ifeanyi Okowa and key PDP structures in Delta as a historic moment, Otu noted that it sets the stage for deeper regional collaboration, accelerated economic development, and greater political stability.

As Vice Chairman of the South-South Governors’ Forum, Governor Otu urged Governor Oborevwori, other political stalwarts, and their supporters who have now joined the APC to bring their wealth of experience and grassroots mobilization strength to bear in advancing the collective quest for a flourishing South-South and a renewed Nigeria.

“Your Excellency’s decision to board the progressive train is a profound testament to your commitment to inclusive governance, sustainable development, and national unity. I am confident that your leadership will further galvanize our collective resolve to deliver the dividends of democracy to our people and drive forward the Renewed Hope Agenda championed by President Bola Ahmed Tinubu,” Governor Otu declared.

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Health

World Immunization Week: UNICEF Organizes Media Dialogue for Journalists

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From Mike Tayese, Yenagoa

As part of activities marking the World Immunization Week 2025, the United Nations Children’s Fund (UNICEF) has organized a two day Media Dialogue with journalists across the 12 states cover by their operations.

The media dialogue by UNICEF in collaboration with Broadcasting Corporation of Abia state took place at Fidelma Hotel Enugu state had in attendant media practitioners from Abia, Akwa Ibom, Anambra, Bayelsa, Cross river, Benue, Ebonyi, Enugu, Rivers, Delta, Imo and Kogi states.



In her opening remark, Chief of Field Office UNICEF, Enugu, Juliet Chiluwe,  at the Two-Day Multi Zonal Media Dialogue on 2025 World Immunization Week (WIW), Heralding the Theme:: ‘Immunization for All is Humanly Possible’  said  the  occasion was to foster dialogue that will help promote and provide quality immunization services to everyone, especially the children we serve.


“Today kick-starts the WIW commemoration across the world and UNICEF joins efforts with health care providers and governments to promote the values of immunization services as should, which entails getting to the last mile.

“UNICEF uses this opportunity to emphasize that Vaccines are proof that less disease, more life is possible when we put our minds to it. It’s time to show the world that ‘Immunization for All is Humanly Possible’. Vaccines remain one of humanity’s greatest achievements and over the last 50 years, essential vaccines have saved at least 154 million lives. That’s 6 lives a minute, every day, for five decades. 

“In 2025, as we approach World Immunization Week (WIW) 2025, themed, “Immunization for All is Humanly Possible”, it’s essential to underscore the continued relevance of this global observance. The theme reaffirms the feasibility and necessity of protecting everyone, from newborns to the elderly, against vaccine-preventable diseases, through inclusive and equitable immunization services.

“In all these years UNICEF, in partnership with the media as a reliable ally and other development partners, continued to provide strategic and operational support in the following areas: Advocacy, Communication, and Social Mobilization (ACSM)
Logistics and Cold Chain Support:
Infrastructure Strengthening such as establishment of oxygen gas plants to strengthen health systems in states Routine Immunization Support”.

Juliet commended the contributions from state governments that compliments UNICEF’s efforts  and urge them  not relent in this partnership but build momentum on progress made so far by continuing to provide budgetary allocations to ensure they get to the last mile where every eligible child gets lifesaving vaccines to survive and reach their full potentials.

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CRIME

Killers Of Edo Realtor, Isibor, Won’t Go Scot-Free, Idahosa Vows

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From Joseph Ebi Kanjo

Edo State government has vowed to bring to justice the killers of a Benin-based realtor and business man, Mr Joel Umwueni Isibor.

The 42 years old estate developer and owner of a boutique was sent to his untimely grave by unknown gunmen who broke into his store on Friday evening, penultimate week, and shot him at a close range.

The state deputy governor, Hon.

Dennis Idahosa, made the vow on Sunday on behalf of the state government when he visited the residence of the family of the deceased to commiserate with the bereaved family over the untimely death of their patriarch.

Idahosa, who said he received the news of the killing with a huge shock, condemned in strong terms the gruesome murder of the Benin-based realtor.

He assured that the state government would not leave any stone unturned to fish out the perpetrators of the dastardly act and bring them to book.

Idahosa said Edo State Governor, Monday Okpebholo, was deeply touched and saddened over the gruesome murder of a vibrant young and energetic man.

He assured that the state government would not leave any stone unturned to fish out the perpetrators of the dastardly act and bring them to book.

He warned criminal elements to relocate from Edo State as the government would not compromise its stand on dealing decisively with criminals and their collaborators, using the instrumentality of the law, to serve as deterrent to others.

Idahosa added the state government would synergise with security agencies to launch high scale investigation into the matter, with a view to apprehending the perpetrators of the heinous act and bring them to justice.

He assured the bereaved family of the state government’s unwavering commitment to identify with them.

Responding, Mrs Joel Isibor, wife of the deceased business man, appreciated the state government for its prompt response to commiserate with the family, and described her husband’s death as a heinous crime against humanity.

She said the assailant laid ambush for her husband, while trying to lock the shop after the day’s business and opened fire on him, without any provocation, adding that nothing was removed from the store which painted a true picture of a well orchestrated assassination.

Mrs. Isibor said she was completely devastated, as the husband was the bread winner of the family and appealed to the state government to carry out thorough investigation to unravel the mystery surrounding the gruesome murder of her husband.

The deputy governor who was in a sober mood could not controlled his emotions as he broke down in tears.

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