NEWS
CBN Sets Limits On Contactless Payments
The Central Bank of Nigeria (CBN) has implemented a new regulation that imposes a daily limit of N50,000 on contactless payments conducted through bank accounts or digital wallets.
In addition, the apex bank has also set a maximum transaction amount of N15,000 for contactless payments.
The Central Bank of Nigeria (CBN) made the official announcement through a circular titled “Transaction Limits on Contactless Payments” and signed by Mr. Musa Jimoh, the Director of Payment System Management Department at the CBN on Tuesday.
The statement reads “Following the issuance of the Guidelines on Contactless Payments in Nigeria and in cognisance of the risks associated with contactless payments, the Bank hereby defines transaction limits above which verification and authorisation are required.
“Transaction limits for contactless payments through accounts/wallets in Nigeria shall be as follows: Transaction limit maximum amount is N15,000 and daily cumulative limit maximum amount is N50,000.
“Higher-value contactless payments are transactions that exceed the above stated limits and shall require appropriate verification and authorisation.
“For these transactions, existing Know Your Customer (KYC) requirements and limits on the electronic payment channels shall apply.
“Limits above this stipulated daily cumulative limit shall be conducted using contact-based technology. Please be guided accordingly.”
According to the ‘Guidelines for Contactless Payments in Nigeria’ also issued yesterday, by the CBN, “Contactless technology is a technology that enables an alternative payment method whereby payment instruments are used without physical contact with devices. Contactless technology in payments provides easy, convenient, and efficient cashless options for users.
It added: “Examples of contactless payment instruments include pre-paid, debit and credit cards, stickers, fobs, wearable devices, tokens and mobile electronic devices. Contactless-enabled payment terminals interact with contactless payment devices to facilitate payments.”
NEWS
Ogun Cracks Down on School Graduation Parties, Issues Immediate Ban
The Ogun State Government has banned graduation ceremonies and end-of-session parties in all public and private schools across the state, citing concerns over the financial burden such events place on parents and guardians.
The directive was contained in a circular issued by the Ministry of Education, Science and Technology and signed by the Director of Education (Private Schools), A.A. Bisiriyu.
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According to the ministry, the decision followed reports that some school administrators were allegedly exploiting parents through charges imposed for graduation and end-of-session celebrations.
“It has been brought to the notice of the Ministry that some administrators of both public and non-state (private) schools have started extorting parents/guardians under the disguise of organising graduation/end-of-session parties for learners,” the circular stated.
The government said it would no longer tolerate such practices, stressing that schools must immediately halt the organisation of graduation and end-of-session events.
“Therefore, it is pertinent to state that, the State Government frowns at organising Graduation/End of Session Party ceremony in all classes in both Public and Non-State (Private) schools in the State. Hence, no school owner should organise such gatherings forthwith,” the ministry added.
School owners and administrators were directed to ensure that the new policy is communicated to parents, guardians and other stakeholders to guarantee strict compliance.
The state government also warned that any school found violating the directive would face sanctions in line with existing regulations.
The move comes amid growing efforts by state governments to curb excessive spending associated with school graduation ceremonies. Recently, the Kogi State Government reaffirmed its ban on extravagant graduation events in nursery, primary and junior secondary schools, warning that erring institutions risk closure.
Similar restrictions have also been introduced in states including Benue, Ondo, Osun and Imo as part of measures aimed at reducing financial pressure on parents and regulating school-related celebrations.
The Ogun State Government maintained that the directive takes immediate effect and urged all schools to comply fully to avoid penalties.
NEWS
Adeleke Credits Judiciary with Key to Survival of Nigeria’s Democracy
Osun State Governor, Senator Ademola Adeleke has highlighted the importance of equitable, just and fair administration of justice as a condition for the survival of democracy in Nigeria.
He made the declaration at the 2026 annual national conference of Egbe Amofin Oodua held at Ile Ife where he tasked judicial stakeholders to uphold the rule of law and ethical conduct on both the bar and the bench.
Represented by the Deputy Governor for Osun State, Prince Kola Adewusi, the governor recalled the current challenges facing the democratic process and concluded that the survival of the democratic process can be further enhanced when judicial officials and legal practitioners uphold the ethics of profession.
The governor spoke further in the keynote address: “The legal profession occupies a unique position in every democratic society because it serves as the bridge between power and justice, between authority and accountability and between the government and the governed.
“The theme of this conference, “Advancing Constitutional Democracy, Accountability and Responsible Governance: The Role of Law” goes to the heart of the challenges confronting our nation and indeed, every democratic society.
“Enduring democracy can only flourish where the rule of law reigns supreme. No society can attain sustainable peace, development or prosperity where laws are applied selectively, justice delayed or where citizens lose confidence in the institutions established to protect their rights.
“The Constitution remains the supreme expression of the collective will of the people. Institutions of Government, public office holders and the citizens are subject to its provisions. The strength of our democracy therefore lies not merely in the existence of laws but in our willingness to obey them and our determination to enforce them fairly and impartially.
“The judiciary has rightly been described as the last hope of the common man. However, for the judiciary to remain the hope of the ordinary citizen, its decisions and processes must continually inspire public confidence. The strength of the courts lies not in physical force but in the trust and credibility they command among the people.
“Our judges must therefore continue to uphold the highest standards of integrity, independence, courage and impartiality. They must remain guided solely by the law, the facts before them and the dictates of justice.
“Similarly, legal practitioners must see themselves not merely as advocates for clients but as ministers in the temple of justice whose ultimate responsibility is the preservation of the legal system and the advancement of justice.
“As a society, we must continue to insist on accountability within our justice system. Every perception of bias, favouritism, corruption, undue influence or sentiment in the administration of justice weakens public trust and diminishes the moral authority of the courts.
“Our nation cannot afford a situation where citizens continue to doubt the capacity of the legal system to protect their rights or resolve disputes fairly. Public confidence in the judiciary is one of the most valuable assets of any democracy and must be protected at all costs”, the governor posited.
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Gov Adeleke said the issue of judicial transparency has even become more critical in our electoral and democratic processes, noting that “judicial interventions in electoral matters must continue to be guided by law, evidence, fairness and constitutional principles.
“The confidence of citizens in democratic governance depends substantially on their confidence in the institutions responsible for interpreting and applying the law. When justice is seen to be fair, transparent and impartial, democracy is strengthened. When judicial outcomes inspire confidence, political stability is enhanced and national unity is reinforced”, the governor said in his keynote address.
He urged all stakeholders to remain committed to lawful conduct, democratic values and peaceful engagement, advising that “political competition should never undermine respect for the law or the integrity of our institutions”.
NEWS
Navy Uncovers Illegal Crude Oil Storage Site in Delta State
Personnel of the Nigerian Navy Ship (NNS) Delta have exposed a camouflaged crude oil storage used to perpetrate crude oil theft in the creeks of the Niger Delta.
The naval personnel uncovered the illegal storage site during an operation code-named, Delta Sentinel, following intelligence received on suspected crude oil theft activities around the Ugbokodo Creek area of Delta State.
This was detailed in a statement on Wednesday by the Director, Naval Information, Navy Captain Abiodun Folorunsho.
According to the statement, the naval personnel first carried out a search of the area with the backing of aerial surveillance.
“Although the location initially appeared free of suspicious activity, further observation and analysis of drone imagery revealed a large freshly dug reservoir deliberately concealed beneath leaves, planks, wood, and thick vegetation to evade detection.
“Subsequent exploitation of the site uncovered approximately 17,000 litres of product suspected to be stolen crude oil stored within the camouflaged reservoir”, the statement added.
The Director, Naval Information, added, “The site also showed clear indications of recent crude oil theft and was assessed to have served as a temporary storage point within an illicit supply network.
“The discovery highlights the increasingly sophisticated concealment methods being adopted by criminal elements to sustain crude oil theft operations.
“However, the integration of intelligence-led operations and aerial surveillance capabilities continues to enhance the Nigerian Navy’s ability to detect and disrupt such illegal activities.
“The reservoir, recovered products, and associated materials were handled in accordance with extant operational procedures, effectively denying economic saboteurs access to resources intended to support further criminal activities”.
The statement assured that the Nigerian Navy remains committed to sustaining pressure on crude oil theft networks under operation Delta Sentinel through persistent surveillance, intelligence-driven operations, and coordinated actions aimed at protecting Nigeria’s energy infrastructure and economic interests.





