The Nigeria Financial Intelligence Unit (NFIU) has banned the Federal, State, and Local Governments from cash withdrawals from government accounts.
In a bid to address corruption in government offices, the ban would take effect from March 1, 2023, Daily Dates Nigeria reports.
Addressing journalists in Abuja on Thursday, the NFIU CEO, Moddibo Tukur, said the ban was necessary to curb the rate at which monies are withdrawn from public accounts in flagrant disregard to the money laundering laws and sometimes for corruption purposes.
He noted that the decision was in sync with the full transition of Nigeria into a cashless economy which the Central Bank of Nigeria has been leading.
Tukur added that any government official who flouts the order will be prosecuted alongside his or her accomplices.
