WITHDRAWAL LIMITS WILL CRIPPLE CAMPAIGN FUNDING, SAY PARTIES

Political parties have kicked against the new cash withdrawal limits introduced by the Central Bank of Nigeria, stating that it could choke the political process.

Parties including the Peoples Democratic Party, Social Democratic Party, Africa Democratic Congress and African Democratic Party contended that the policy would affect the fundraising required by the candidates to sustain their campaigns ahead of the 2023 elections.

Also, speaking in separate interviews with The PUNCH on Sunday, the African Action Alliance, Zenith Labour Party, and the All Progressives Grand Alliance declared that it would impact the poor rural dwellers.

Governor Ahmadu Fintiri of Adamawa State had accused the CBN Governor, Godwin Emefiele, of targeting the political class with the new cash withdrawal limit which restricts over-the-counter cash withdrawal by individuals and companies to N100,000 and N500,000, respectively, per week.