ASHENEWS reports that the Nigerian government has put mechanism in place to ban cash withdrawal from all public accounts with immediate effect.
The Director and Chief executive of Nigerian Financial Intelligence Unit (NFIU), Modibbo Hamman Tukur disclosed this at a parley with the chairman of Independent National Electoral Commission (INEC), Prof. Mahmud Yakubu in Abuja on Tuesday.
According to him, public officers will be expected to open domiciliary accounts in foreign and local currencies to allow for, instead of withdrawals from government accounts, payments of estacode and others to public officials, which are often in excess of the cash withdrawal limit provided for by the Money Laundering Act.
This he said would prevent innocent public officials from being liable to imprisonment as a result of violation of the Act.
