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April 20, 2024

Emefiele dey insist on cash limit withdrawal, Reps demand suspension

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Di Governor of di Central Bank of Nigeria, Godwin Emefiele, on Thursday, tok say Nigerian economy don overdue to go cashless as di Federal Government don sufficiently invested in required payment system infrastructure to make transition more easy.

Emefiele yarn dis one shortly after meeting President Muhammadu Buhari for hin hometown of Daura, Katsina State.

U FIT ALSO READ Customers, companies dey fear as CBN slash withdrawal limits

Controverses don dey go round about di CBN latest policy wey bin limit daily cash withdrawals to N20, 000 and weekly withdrawals of N100,000 for individuals.
But defending di CBN directive, Emefiele tok say “ him think say e dey more important for him to tok say di cashless policy don dey since 2012. But on almost three to four occasions, dem bin step down di policy becose say dem feel say e go dey necessary for us to prepare ourselves bifore implementing dat kind payment policy into Nigeria system.

“Beetwin 2012 and 2022, almost 10 years now, hin believe say a lot of electronic channels don dey in place wey go help di pipol to conduct beta banking and financial service transactions for Nigeria.
Responding to di National Assembly’s suspending of di policy, Emefiele tok say di withdrawal limits policy na wetin dem still fit change if dem see say e no wan work out give Nigerians.

Meanwhile, di House of Representatives don summon Emefiele to come explain di policy to di parliament.

However, di House of Representatives don dey consider a joint session with di National Assembly for Emefiele to con explain give dem more on dat policy on Tuesday. based on di motion of urgent public importance moved by one member of the House, Aliyu Magaji, at the plenary on Thursday.

Speaker of the House, Femi Gbajabiamila, tok say na one big issue wey everybody dey concerned about,”
Magaji tok say, “ di issue on di motion wey hin move so dey boda most pipol wey dey for rural areas where everything is done in cash. den, somebody go just wake up one morning like say na hin get di country con implement one yeye policy without consultation.

Seh dem forget say 80 to 90 per cent of di pipol dey live for rural areas. FG need to do something to save di situation. If not everything go turn yarm pepper scatter scatter.

Most of di lawmakers don condemne di policy, and Gbajabiamila don tok say him go meet with President of di Senate, Ahmad Lawan, to see if di two chambers fit get a joint session to ask Emefiele say who approved di policy give am wey go happun bi 11am on Thursday.

Member of the House, Ibrahim Olanrewaju, after di motion to summon Emefiele, don raise a point of order, telling di chamber to demand suspension of di policy until di lawmakers conclude dia investigation.

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