The Nigeria Financial Intelligence Unit (NFIU) has banned cash withdrawals from all bank accounts belonging to the federal, states, and local governments.
The Chief Executive Officer of the NFIU, Modibbo Tukur, who disclosed this in a statement on Thursday in Abuja, said the directive would take effect from March 1.
He said all government transactions that exceed the approved daily withdrawals by the Central Bank of Nigeria under the new monetary policy would be done through electronic transfer.
