ATMs: CBN Reads Riot Act to Banks over Alleged Inhibition of Cash Circulation Says financial institutions conniving with PoS operators to frustrate customers
James Emejo in Abuja
The Central Bank of Nigeria (CBN) yesterday read the riot act to banks
over activities of their staff which was allegedly hindering the flow of cash in the economy. The central bank said it had
observed that malpractices and desperation to support the profiteering motive of Point of Sale (PoS) operators in connivance with staff of banks -
who are in many cases owners of the terminals – were inhibiting efficient circulation of cash. The warning to banks followed a
THISDAY enquiry into allegations that Automated Teller Machines (ATMs) had been without cash amid claims that banks were trading cash with
PoS operators. The CBN further disclosed that it Continued on page 5
Oando Advocates Increased Extraction of Crude Oil in Nigeria Despite Energy Transition Pressure...
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Certified True Copy Shows Court Didn’t Invalidate Edo PDP Primary...
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New UK Prime Minister, Starmer Announces Cabinet Hours after Assuming Power Pledges to reset Britain Tinubu describes UK as real model of democracy, Nigeria's long-standing partner
Deji Elumoye, Chuks Okocha and David-Chyddy Eleke with agency report
Hours after securing a resounding victory, Prime Minister of Britain, Keir Starmer, yesterday, announced his new cabinet.
King Charles III, officially appointed Labour leader, Starmer, prime minister at Buckingham Palace. His party achieved a landslide victory
in the general election, bringing an end to 14 years of Conservative rule. King Charles III formally asked Starmer to form a new government,
with the politician promising the British public he would steer the country towards “calmer waters,” according to CNN.
Also yesterday, President Bola Tinubu, congratulated Starmer on Continued on page 5
Rivers Assembly Crisis: Fubara Says No Cause for Alarm Despite Appeal Court Judgement Declares the worst over Pro-governor’s lawmakers head to supreme court Ask INEC to conduct bye election for vacant seats Blessing Ibunge in Port Harcourt Following the Thursday’s Appeal Court ruling on the jurisdiction of Rivers State High Court to hear the matter on suit number PHC/1512/ CS/2024, the State Governor, Siminalaye Fubara, yesterday, said there was no cause for alarm, insisting that the development would not affect his commitment to good governance. The governor stated this while speaking with journalists after he inspected the extent of reconstruction work done at the Zonal Hospital project at Bori Town, headquarters of Khana Local Government Area. Fubara made the remarks same
day Speaker of the Rivers State House of Assembly loyal to him, Victor Oko-Jumbo, filed an appeal at the Supreme Court challenging the judgement of the Appeal Court on the jurisdiction of Rivers State High Court to hear the matter on suit number PHC/1512/CS/2024. Speaking further on the court pronouncement on the State House of Assembly crisis, Fubara said there was no cause to worry, stressing that God has prepared him a table of blessings in the presence of his enemies. He said: "I know that a lot of you Continued on page 5
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DISCUSSION ON NIGERIA’S INFORMAL SECTOR… L-R: Managing Director, Moniepoint MFB, Babatunde Olofin; Minister of Trade and Investment, Doris Uzoka-Anite, and Director Gneral, SMEDAN, Charles Odor, at a discussion on understanding the dynamics of Nigeria’s informal economy and its role in shaping more inclusive and sustainable economic future held in Abuja…recently JULIUS ATOI