NFIU to End Cash Withdrawal from Federal, States and Local Government Accounts

The Nigerian Financial Intelligence Unit, NFIU, has said it is putting measures in place to stop cash withdrawal from federal, states and local government bank accounts.

Director and Chief Executive Officer of the Unit, Modibbo Tukur, made this known at a parley with the Chairman of the Independent National Electoral Commission, Mahmood Yakubu.

Tukur stated that most cash withdrawals from government accounts including payments for estacode are often in excess of the cash withdrawal limit provided by the Money Laundering Act.

The Director harped on the need for governors and council chairmen to organize training for market men and women on how to use ATM and POS services.