- Says policy breaches constitution
As divergent views continue to trail the Central bank of Nigeria, (CBN), recently released policy on cash withdrawal limit, the House of Representatives at a plenary session today, summoned the institution’s Governor, Godwin Emefiele to respond to expressed concerns raised.
It would be recalled that the Upper Chamber, the Senate Wednesday this week while deliberating on the controversial CBN new policy, summoned Emefiele to come and respond to fears already generated by the policy.
But the lawmakers order followed the adoption of a motion by the Chairman, House Committee on Power, Magaji Da’u Aliyu, over the new cashless policy introduced by the CBN earlier in the week.
A member of the lower House, Mark Gbillan from Benue State said that the CBN Governor breached a section of the constitution by introducing the policy without consulting the lawmakers.
Emefiele is to appear before the House on Thursday, 15th December 2022 at 11 am, to shed light on the newly proposed naira redesign and withdrawal limit policies, the statement reads.
Just last Tuesday, the CBN introduced a new policy which allows individuals to withdraw N100,000 per week ( from over the counter, Point of Sale Machines or the Automated Teller Machines), while organisation can access N500,000 per week.
The institution also directed Banks to load only N200 and lower denominations into their Automatic Teller Machine, ATM across the nation.
