The Central Bank Governor Godwin Emefiele will appear before the House of Representatives next Tuesday to explain modalities for the bank’s latest cashless policy.
Last week the house invited Mr Emefiele over the controversy that rocked the bank’s newly introduced cash withdrawal limit policy expected to take effect from 1st of January 2023.
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The CBN governor was expected to appear before the lawmakers this Thursday but then he wrote to the house informimg them of his trip outside the country with president Muhammadu Buhari, the letter was read by deputy speaker, Ahmed Idris during Thursday’s plenary.
Several lawmakers expressed concerns that the policy would have adverse consequences on businesses and Nigerians who are excluded in the financial system.
Reacting to the policy, Director-General of NECA, Wale-Smatt Oyerinde, in a statement released said the CBN did not consider the adverse effects the withdrawal limit will have on the economic activities of Nigerians.
