• CBN sets daily withdrawal limit on POS to ₦100k per customer
• CAC deregistered 300,000 companies in a year
• NBS reveals there were 52 million crimes recorded in one year
• Inspector General restricts policemen from “stop-and-search” tasks
• President-elect of Ghana John Mahama meets with Tinubu in Abuja

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

CBN sets daily withdrawal limit on POS to ₦100k per customer

The Central Bank of Nigeria (CBN) released a circular announcing that it would set a daily withdrawal limit per customer on all Point of Sale (POS) systems.

The circular was sent to all deposit money banks (DMBs), mobile money operators, microfinance banks, and super-agents, stating that the restriction was intended to further promote Nigeria’s ongoing cashless policy.

According to the circular, each customer is limited to ₦500,000 per week and has a daily withdrawal limit of ₦100,000, regardless of the channel used to withdraw the cash.

CAC deregistered 300,000 companies in a year

The Corporate Affairs Commission (CAC) has revealed that it deregistered about 300,000 dormant registered companies in the country within a year.

The Registrar General, Hussaini Ishaq Magaji (SAN), revealed this in an interview: “From October 16, 2023, when I assumed office, to date, we have witnessed an extraordinary level of deregistration. In December 2023 alone, we deregistered over 100,000 companies. By February 2024, another 100,000 companies were removed, and recently, we deregistered an additional 100,000.”

He said the agency was worried that some of these companies could be used for fraudulent activities. They had failed to file annual returns for over a decade, making them eligible for deregistration by CAC.

NBS reveals there were 52 million crimes recorded in one year

The National Bureau of Statistics (NBS) released a report stating that about 52 million crimes were recorded yearly, with Nigeria paying ₦2.2 trillion for ransom fees.

The report stated that the northwest region had the most recorded crimes (14 million cases), while the southeast region had the fewest (6 million cases).

“Nigeria recorded an estimated 51,887,032 household crime incidents. Disaggregation by zone reveals that the North-West (14,402,254) reported the highest incidences of household crime, followed by the North-Central (8,771,40). In contrast, the South-East (6,176,031) reported the least crime incidence,” the report revealed.

Inspector General restricts policemen from “stop-and-search” tasks

The Inspector General of Police, Kayode Egbetokun has announced that all police officers must desist from the unnecessary investigation duties they execute on young Nigerian citizens.

The news was made due to the significant complaint of police misconduct made by the UK’s opposition leader, Kemi Badenoch and Nigerians on social media, claiming that the police officers are out to rob, hunt and kill any Nigerians perceived to be affluent.

The IGP stated that all police officers across the country were prohibited from checking phones, making unlawful arrests, and harassing youths.

President-elect of Ghana John Mahama meets with Tinubu in Abuja

The newly elected President of Ghana, John Mahama, met with the President of Nigeria, Bola Tinubu, at the Presidential Villa in Abuja.

Tinubu’s Special Assistant on Social Media, Olusegun Dada, revealed this with a post on X (formerly Twitter), as John Mahama, who had once ruled as Ghana’s president from 2012-2016, had returned to rule for a second term.

President Tinubu had congratulated Mahama on his win, and the visit to Nigeria now marks a budding relationship between the presidents of both West African countries.