Economy

BREAKING: Reps ask CBN to suspend new cash withdrawal limits, summon Emefiele

The House of Representatives has asked the Central Bank of Nigeria (CBN) to stop the implementation of the new cash withdrawal policy slated for January 9, 2023 pending compliance with the provisions of the Act establishing the bank.

Similarly, the House also summoned CBN Governor Godwin Emefiele in accordance with the provisions of the Central Bank Act to brief the Chamber on several policies of the bank in recent times.

 

There was anger in the House on Thursday as members took turns to condemn the new cash withdrawal policy, saying it will grossly affect small businesses and the economy since most rural communities don’t have access to banks.

However, following a point of order raised by Mark Gbillah on the provisions of the Central Bank Act, the House directed the CBN Governor to appear before the House on Thursday, December 15, 2022 to brief the House on why the policy should be allowed to stand.

 

 

 

 

 

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One Comment

  1. Let’s support the CBN governor on this policy to save the naira. The reps that have cared less about the common man in the village have risen in defence of them.
    It’s all hypocrisy, they are indirectly trying to protect their loot.
    A new Nigeria is possible.
    Obidently we move.

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