Category: Breaking News

  • News,Catholic-priest-kidnapped-by-unknown-gunmen-in-kaduna

    News,Catholic-priest-kidnapped-by-unknown-gunmen-in-kaduna

    There is panic in the Catholic community in Kaduna following the abduction of Reverend Father Emmanuel Ezema, a priest of the Zaria Diocese, who was whisked away by unknown gunmen late Tuesday night.
    The Diocese of Zaria confirmed the disturbing development on Wednesday, in an official notice signed by the Diocesan Chancellor, Rev. Fr. Isek Augustine.
    The statement stated that Fr. Ezema was kidnapped around 11:30 pm from his residence at St. Peter’s Catholic Church, Rumi, sending shock waves across the parish and the entire Christian community.
    “We regret to officially announce the abduction of our priest, Rev. Fr. Emmanuel Ezema… We call on all men and women of goodwill to pray for the safe and quick release of our priest and others from the hands of their abductors,” the Diocese said.
    The Church also invoked the intercession of the Blessed Virgin Mary, expressing hope that the priest would “return to us safe and sound.”
    Recall that an Anglican priest who was in Kaduna last month was killed in captivity.
    Archbishop Henry Ndakuba said Venerable Edwin Achi, who was seized with his wife and daughter from their home in Kaduna state on October 28, was murdered after spending about a month in captivity.
    “With profound sorrow, we announce the tragic death of our beloved priest… who was brutally murdered after enduring a month-long abduction,” Ndakuba said in a statement late on Friday.
    Gunmen initially demanded a ransom of 600 million naira ($416,000) for Achi’s release, later reducing it to 200 million naira, the church said. His wife and daughter remain in captivity. The police in Kaduna did not respond to requests for comment.
    There has been a spike in terrorists, bandits and kidnapping attacks in Nigeria in the last two months, prompting the declaration of a national security emergency as part of the measures to address the situation.

    Published by: Adetayo Omotoyosi Adeolu

  • BREAKING: Cbn Scraps Cash Deposit Limits, Increases Weekly Withdrawal Threshold

    BREAKING: Cbn Scraps Cash Deposit Limits, Increases Weekly Withdrawal Threshold

    The Central Bank of Nigeria, CBN, has announced major adjustments to its cash-handling policy, abolishing the ceiling on cash deposits and expanding the weekly withdrawal limit across all platforms to N500,000, a significant rise from the previous N100,000.
    The development was announced in a circular issued to financial institutions and titled “Revised Cash-Related Policies”, endorsed by Dr. Rita Sike, Director of the Financial Policy & Regulation Department.
    In the document, the apex bank stated that the overhaul aligns with efforts to curb the surging cost of managing physical cash, tackle security risks, and stem money-laundering vulnerabilities linked to Nigeria’s cash-driven economy.
    The CBN further said that although earlier cash directives were created to push Nigerians toward electronic payment options, a review became necessary to align with current economic conditions.With effect from January 1, 2026, the circular listed several major amendments. The cap on cumulative deposits has been abolished, and additional charges for surpassing former deposit limits have been eliminated.
    The bank also announced a fresh cumulative withdrawal ceiling of N500,000 weekly for individuals and N5 million for corporate entities across all access points. Any amount above the stated limits will incur excess-withdrawal fees as outlined in the new guidelines.
    The earlier monthly special approval which permitted individuals to draw N5 million and corporates N10 million once every month has now been scrapped.
    According to the CBN, customers who make use of ATM will still be restricted to N100,000 daily, with a total weekly limit of N500,000, which contributes to the overall weekly withdrawal total applicable to ATMs, POS machines, and other channels.
    The apex bank further said that withdrawals exceeding the approved thresholds will attract charges of 3% for individuals and 5% for organisations, to be split 40% to the CBN and 60% to the servicing bank or financial institution.
    The circular also added that banks have been instructed to ensure ATMs are stocked with all available currency denominations. Meanwhile, the ceiling on over-the-counter withdrawals using third-party cheques remains at N100,000, which will also count toward a customer’s weekly limit.
    Furthermore, deposit money banks are mandated to submit monthly compliance reports to departments responsible for supervision, including Banking Supervision, Other Financial Institutions Supervision, and Payments System Supervision.
    The circular clarified that the new rules will not apply to revenue-collecting accounts operated by federal, state, or local governments.
    Accounts belonging to microfinance banks and primary mortgage banks domiciled with commercial or non-interest banks also remain exempt.
    However, the previous privileges granted to embassies, diplomatic offices, and donor agencies have been withdrawn.

    Published by:
    Adetayo Omotoyosi Adeolu

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