Following public outcry over the new CBN cash withdrawal limits, the Central Bank of Nigeria Governor, Mr Godwin Emefiele has said the Apex may review the policy to accommodate various concerns.
Addressing Journalists after a private visit to President Buhari in Daura, Katsina, Mr Emefiele said the Apex bank will not be rigid with its policies.
He added that the new policy is not targeted at any individual but to promote the cashless policy which has been in existence since 2012..
Recall thar the Central Bank of Nigeria, CBN has been ordered to suspend the implementation of the new cash withdrawal policy slated for January 9, 2023 pending compliance with the provisions of the Act establishing the bank.
The House also summoned CBN Governor Godwin Emiefele in accordance with the provisions of the Central Bank Act to brief the Chamber on several policies of the bank in recent times.
There were reports of 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.
But 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.
