Business
Varsity Suspends SSANU Chairman, Secretary
The Plateau State University, Bokkos has suspended the Chairman and Secretary of the varsity’s chapter of the Senior Staff Association of Nigeria Universities (SSANU), Messrs Timnan Rimdap and Dusu Sambo Yaro.
The suspension letters, dated January 27 and signed by the university’s Registrar, Mr Amos Mallo, indicated that the suspension was for three months during which they would receive only half of their basic salaries.
Timnan is the Head of the ICT unit, while Yaro is in the academic planning unit.
The letters barred them from entering the university’s premises during the period “except with the express permission of the Vice-Chancellor, Registrar or Acting Chief Security Officer”.
The officers were directed to hand over their duties and Identity Cards to the most senior officers in their departments.
A copy of Timnan’s suspension letter indicated that he was fired after management felt dissatisfied with his response to queries bordering on SSANU issues and alleged absence from duty.
They were accused of “insubordination, lack of respect to constituted authority and attempting to tarnish the image of the university through falsehood and misrepresentation of facts”.
Sources from the Registry traced the development to the inauguration, on November 23, of the school’s chapter of SSANU, by the union’s national body, and the subsequent request for members’ check-off dues by the Timnan-led interrim executive committee.
The Tide learnt that the Vice Chancellor declined the request for the dues, and insisted that he would only recognise the body after it had been registered by the school.
Copies of numerous letters, between the management and SSANU, showed that while the former insisted on registering, before recognising every trade union, the latter argued that the registration of trade unions was the sole responsibility of the Registrar of Trade Unions.
In one of such letters, SSANU quoted section 3 (1) of the Trade Unions Act 2004, as conferring that privilege only on the office of the Registrar of Trade Unions in the Federal Ministry of Employment, Labour and Productivity.
“The National President of SSANU – a registered trade union – has granted approval for the establishment of a branch thereof in Plateau State University and the recognition of the union by an employer is obligatory,” SSANU argued.
SSANU, therefore, declared that it was “unnecessary and unconstitutional to have another registration with the university”.
But management, in a memo dated January 10, insisted on the registration of all trade unions so as to monitor their activities, and directed unions, intending to operate in the school, to forward a list of officials, constitution and current membership list, for registration with the university.
It followed that up by specifically requesting minutes of the meeting where SSANU members agreed to the 2 per deduction on their salaries as check-off dues, and finally ruled that only individuals could write, granting permission to management, to tamper with their wages.
The university management, meanwhile, frowned at the tone of letters to it, and direct text messages to the Vice Chancellor, which it considered disrespectful, and accused Timnan and the union of using unpalatable language.
Contacted, the university’s Vice Chancellor, Prof. Doknan Sheni, said that the suspension had nothing to do with SSANU or a desire to stiffle the union.
Business
FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions
Business
CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
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