…2026. According to analysts, the latest increase indicates that the preference for cash transactions remains significant, notwithstanding the growing adoption of mobile banking, electronic transfers, point-of-sale terminals and other digital payment platforms. Demand deposits rise 71% Meanwhile, demand deposits in the…

…a taxpayer’s lifestyle, assets, business location, associations and electronic or cash transactions when estimating undeclared earnings.Information obtained from communities may also help officials determine the likely turnover of businesses without reliable financial records.However, the provision does not automatical…

…services had contributed to fintech adoption, with consumers gradually shifting from cash transactions towards digital payment methods. It noted that fintech and banking applications had become important tools for managing financial activities, particularly in urban areas where digital payments were increasingly used f…

…finance officers and associated third parties. It identified procurement processes and cash transactions as significant risk areas, saying the latter complicated audit trails and efforts to trace illicit assets. The NFIU said its findings were translated into targeted advisories, executive alerts and strategic intellig…

…who accept them could be held responsible under the law, adding that unauthorized cash transactions may be treated as offences. He urged transport operators to ensure their drivers and conductors comply with the policy, carry out internal checks and cooperate with LAMATA officials during enforcement exercises. Akinola…