House of Reps Reportedly order CBN to suspend cash withdrawal policy
Written by Olarotimi Oshin on December 8, 2022
Angry with the N100,000 weekly cash withdrawal limits recently set by the Central Bank of Nigeria (CBN) and its attendant economic and social challenges, the House of Representatives at plenary today reportedly asked Governor, Godwin Emefiele to suspend implementation of the policy.
The CBN Governor was asked to appear next week Thursday to explain to the House on the impact and significance of the new policy.
Meanwhile, the suspension is to last pending the outcome of the expected engagement with the House on the compliance with the relevant sections of the CBN act and the 1999 constitution on the monetary policies of the apex bank.