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The Nigerian Financial Intelligence Unit, NFIU, has said it is putting measures in place to stop cash withdrawal from federal, states and local government bank accounts.
Director and Chief Executive Officer of the Unit, Modibbo Tukur, made this known at a parley with the Chairman of the Independent National Electoral Commission, Mahmood Yakubu.
Tukur stated that most cash withdrawals from government accounts including payments for estacode are often in excess of the cash withdrawal limit provided by the Money Laundering Act.
The Director harped on the need for governors and council chairmen to organize training for market men and women on how to use ATM and POS services.
The Director General of Labour Party Campaign Organization, Doyin Okpue, has resigned from his position. Okupe announced his resignation in a letter addressed to the presidential candidate of the Labour Party, Peter Obi. This follows a ruling by a Federal High Court sitting in Abuja that convicted him of violating the Money Laundering Act.
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