While it is not my intention to delve deeply into the argument as I believe that experts in the financial sector would take up the task, it is essential to make a few observations, and perhaps set the tone of the discourse.
Without prejudice to the authority of the parliament, I honestly wonder what the House intend to achieve with the resolution. I am sure that nobody, including the Speaker of the House, Femi Gbajabimila, and other members of the House would believe that the governor of the CBN, Godwin Emefiele, single-handedly acted on the cash withdrawal limit policy. If this is so, I consider the resolution of the House controlled by the same political party in government as unnecessary and an affront to the powers of the President. At this point, I will advise Gbajabimila to tread with caution and apply wisdom when government decisions do not favour his political interest. He should remember his common saying that “There are many ways to skin a cat.”
Having said that, in as much as I wish to embrace the new policy and I believe that it will be of great assistance to the nation’s anti-corruption drive, there are genuine concerns and these concerns are capable of shutting down some Nigerians, particularly those in the remote areas, from the economy. To this end, I appreciate the House for raising issues as the House of the Nigerian people.
