Reps summon Emefiele over cash withdrawal limits

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The House of Representatives has summoned the Central Bank of Nigeria (CBN) Governor Godwin Emefiele over the apex bank’s new policy on cash withdrawals.  This followed a resolution by the lawmakers during plenary on Thursday.

The recent move is coming hours after the Senate raised concern over the new CBN directive. Senate Minority Leader Phillip Aduda raised a point of order during plenary on Wednesday. He asked for caution, saying the new policy on withdrawals will affect the economy.

Towing a similar line, Senate President Ahmed Lawan in his response, called for caution over the fresh directive, maintaining that it is not something that should be jumped into. As far as he is concerned, there is a need for deliberations on the policy. He thereafter asked the Senate Committee on Banking to discuss the move when during the screening of two nominees (expected to hold next Thursday) as CBN deputy governors.

The lawmakers, therefore, set next Tuesday to debate the new CBN policy.

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