- House of Representatives has ordered the CBN to suspend its directives to banks to limit cash withdrawals to N100,000 for individuals and N500,000 for organisations per week
- Many lawmakers have argued that the new policy will cripple small businesses and have economic effects in rural areas with limited banks
- The green chamber had also ordered the apex bank governor, Godwin Emefiele, to appear before the house on Thursday
FCT, Abuja – The Central Bank of Nigeria has been ordered by the house of representatives to stop the implementation of its new cash withdrawal policy scheduled to commence on January 9, 2023, till it complies with the Act that established the bank.
The house of assembly also summoned the CBN governor, Godwin Emefiele, following the provision of the central bank Act, which required the apex bank to brief the lawmakers on the bank policies in recent times, The Nation reported.
