The House of Representatives has requested that the Central Bank of Nigeria, CBN, postpone the January 9, 2023, implementation of the new cash withdrawal policy.
In response, the lower legislative chamber denounced the new policy at plenary on Thursday and called CBN Governor Godwin Emiefele to give a briefing on numerous recent bank measures.
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Mark Gbillah complained at a point of order that the measure will severely harm small enterprises and the economy because the majority of rural areas lack access to banks.
The current CBN policy, which restricts daily cash withdrawal to N20,000 daily, should not be allowed to remain, according to Mr. Aliyu, since it will have a negative impact on Nigerians, particularly those who operate small companies.
He claimed that the CBN was developing yet another policy that would negatively affect the general public without sufficient advocacy as the nation was still attempting to come to terms with the decision to redesign the currency.
