Nigeria to ban government workers from withdrawing cash from government accounts from March 1

Nigerian government workers will be banned from withdrawing cash from government accounts starting March 1, the head of the Nigerian Financial Intelligence Unit (NFIU), Modibbo R. Hamman Tukur, said, according to Reuters. The economy's goals dovetail, for federal, local and state officials, and aim to tackle corruption and money laundering in government. new rules. Between 2015 and 2022, officials withdrew the equivalent of $2.45 billion in cash from government accounts, according to an analysis by the Central Bank of Nigeria (CBN). Foresight News previously reported that the Nigerian central bank will restrict cash withdrawals in January this year, encouraging cashless transactions such as the central bank’s digital currency eNaira.