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THE IMPLICATION OF LIMITATION OF CASH WITDRAWALS/DEPOSITS: PROS & CONS.
On the 6th day of December, 2022 the Central Bank of Nigeria (CBN) issued a circular directing Deposit Money Banks, Payment Service of Bank (PSB) and other financial Institutions limiting cash withdrawal by customers from their accounts.
Our corporate commercial practice group recently reviewed the legal framework of this regulation from a pros and cons perspective.
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The Nigeria Tax Reform Acts 2025, comprising the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board Act, represent the most far-reaching restructuring of Nigeria's fiscal framework in decades, and their significance for legal practitioners, commercial enterprises, and the architecture of the federation itself should not be underestimated.
2026-04-03
We are pleased to have represented the Economic Community of West African States (ECOWAS Commission) in a Contentious Litigation before the Federal Capital Territory High Court, Sitting in Abuja Nigeria Coram: Kutigi .J in suit No: FCT/CV/ 475/2018 in matter instituted by Spanish Attorney; Ramon Trillo Maquina claiming professional fees from his representation of the Commission in an LCIA Arbitration in London.
2022-10-20
