Banks Load ATMs with Cash as N100 Transaction Fee Takes Effect Nigerian banks have stocked their ATMs with cash following the implementation of a new N100 withdrawal fee on March 1. The Central Bank of Nigeria (CBN) introduced this revised ATM transaction charge in a circular dated February 10, 2025. Under the new policy, withdrawals…

Telecom companies blocked over 40 million phone lines because people didn’t link their SIM cards to their National Identity Numbers (NINs) by February 28, 2024, as instructed by the Nigerian Communications Commission. Originally, only 12 million lines were supposed to be affected. The NCC had warned about this in December 2023, giving telecoms a heads-up…

Elon Musk believes that artificial intelligence could lead to widespread job loss. According to a CNBC report, Musk, who owns companies like Tesla, SpaceX, X (formerly known as Twitter), and a new AI startup called xAI, recently stated that AI has the potential to be the most disruptive force in history. He mentioned that there…

The Central Bank of Nigeria (CBN) has announced that it will be increasing the cash withdrawal limits for individuals and corporate organisations effective January 9, 2023. According to a circular signed by the Director of Banking Supervision, Haruna B. Mustafa, on Wednesday, December 21, 2022, the new limits for individuals will be N500,000 and N5,000,000…

now that central bank has reduced weekly withdrawals of individual to 100k and that of registered businesses to 500k , what exactly do they want to achieve with ThIs ? Amongst many things programmedto be achieved with this monetary policy , one is that they want to move the economy from the point of consumption…