House of Reps orders CBN to suspend new cash withdrawal limit

The House of Representatives has requested that the Central Bank of Nigeria (CBN) postpone the implementation of the new cash withdrawal policy scheduled for January 9, 2023, pending compliance with the terms of the Act creating the bank.Information Guide Nigeria

In compliance with the requirements of the Central Bank Act, the House also called CBN Governor Godwin Emiefele to brief the Chamber on numerous recent policies of the bank.

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On Thursday, members of the House took turns criticizing the new cash withdrawal policy, claiming that it will harm small companies and the economy because most rural regions lack access to banks.NYSC portal

However, in response to a point of order brought by Mark Gbillah on the provisions of the Central Bank Act, the House asked 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.JAMB Result

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