REPS ORDER CBN TO SUSPEND CASH WITHDRAWAL POLICY

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 asked the Governor, Mr Godwin Emefiele to suspend the implementation of the policy.

Emefiele was asked to make an appearance Thursday next week to explain to the House the impact and significance of the new policy.

Hon. Mark Gbillah noted that the CBN was yet to explain to Nigerians how the redesigning of the Naira was funded; stressing that there was no approval of such expenditures by the national assembly.

To that end, the Speaker, Rep. Femi Gbajabiamila who felt convinced after confirming from some members of the relevant Committees of the House on the absence of Emefiele for the briefings, relied on the sections of the laws so quoted to sustain the point of order.