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Banks Restrict Multiple Account Owners To N20,000 Withdrawal

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There is no end in sight yet to the low cash supply by commercial banks as customers face increasing difficulty with cash withdrawal, checks by Daily Trust have shown.

There are indications that commercial banks have also limited cash withdrawal on Automated Teller Machine (ATMs) to N20,000 for multiple account holders.

We learnt that the cash scarcity has worsened in recent times despite a warning by the Central Bank of Nigeria (CBN) to impose sanctions on commercial banks.

This is in spite of over N4.3 trillion currency in circulation, which has sustained an upward trajectory in the outgoing year.

The CBN governor, Olayemi Cardoso had at the annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos recently assured that the bank would continue to “Maintain a robust cash offering to meet the country’s needs, particularly during high demand periods such as the festive season and year-end.”

Reports from across the country indicated that customers were still having difficulty with withdrawing cash from either the banks or ATMs.

It was learnt that customers with multiple accounts are only allowed to make ATM withdrawal of N20,000 on a daily basis.

A bank customer told our correspondent that he couldn’t make further withdrawal from his other account after withdrawing N20,000 from his first account.

“Because I needed more cash, I used another ATM card to make further withdrawals but I got a response that the daily withdrawal limit has been exceeded,” the customer said.

Daily Trust findings also showed that withdrawal limit varies depending on the availability of cash even as some ATMs pegged maximum withdrawal from other banks to N5,000.

Daily Trust gathered that the withdrawal limit at one of the branches of Guaranty Trust Bank, (GTB) was pegged at N5,000. Further findings showed that a user with two ATM cards of different banks could withdraw N5,000 each.

For GTB customers, the withdrawal limit was pegged at N20,000 both at the ATM and over the counter.

One of the bank officials who was asked about the withdrawal limit said: “It depends on the availability of cash but now the limit is N20,000.”

At FCMB, our correspondent gathered that the withdrawal limit of other banks was pegged at N20,000 while the withdrawal limit for FCMB customers was pegged at N40,000.

Also, at Zenith Bank, it was gathered that the withdrawal limit was N20,000.

A point-of-sale (POS) agent, Mosuru Oluwasegun pleaded with bank authorities to ease the means of doing business for POS operators, saying the withdrawal limit of N5000 as an untold hardship.

“We are facing serious problems with scarcity of cash, it has not been easy as banks do not dispense enough money. They dispense only N5,000, which is not enough for us to do our business,” he added.

Cash supply is low, we are rationing – Bank sources

Sources at some DMBs told our correspondent that cash supply is slow across the bank branches while confirming the withdrawal limit by some banks.

“Cash supply is low so banks are managing for it to go round. POS people don’t even get cash from the banks. They source from fuel stations and markets but people will think it’s from banks,” one of the bank officials who spoke with our correspondent in confidence said.

 

 

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How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.

 

Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.

 

The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.

 

Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.

 

In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.

 

Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.

 

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Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly

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The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.

 

The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.

 

This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.

 

According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.

 

“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.

 

The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.

 

Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.

 

The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.

 

“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.

 

The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”

 

It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.

 

JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.

 

 

 

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Your Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara

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Former Governor of Ekiti State, Ayodele Fayose, says the second coming to office of the Rivers State Governor, Siminalayi Fubara, after the elapsing of the state of emergency should have made him better.

 

Fayose’s remarks come as the Rivers State House of Assembly has initiated impeachment proceedings against Fubara as of January 8, 2026.

Speaking in an interview on ‘Politics Today’, a programme on Channels Television on Friday, Fayose said he was removed as governor and went to exile but became a better person upon his return.

Fayose said that President Bola Tinubu hates ingratitude just like any other person else does.

The former Ekiti governor also dismissed the claim that what is happening in Rivers state is politics taken too far.

According to him, the constitution provides rules of engagement for every politician, stressing that it is when one gets out of the rule that he begins to look for public sympathy.

“The coming back of Governor Fubara should have made him a better person .If you made a mistake the first time, the second time you are not supposed to go through that route.

“Politics is a power game. Nobody solves political game for you. With due respect, let me tell you. Fubara is the one enjoying the office of the governor of Rivers state. It’s not the FCT Minister, Nyesom Wike.

“Some people are saying it’s about Tinubu’s election. No! Because Tinubu’s election will come first, don’t forget that. Both Wike and Fubara will all work for Tinubu. Two weeks after, there will be an election for Rivers state,” he said.

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