The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the implementation of the new cash withdrawal policy slated for January 9, 2023, pending compliance with the provisions of the Act establishing the bank.
The House also summoned CBN Governor Godwin Emiefele, in accordance with the provisions of the Central Bank Act, to brief the Chamber on several recent bank policies.
On Thursday, the House was angry as members took turns condemning the new cash withdrawal policy, saying it would grossly affect small businesses and the economy since most rural communities don’t have access to banks.
However, following a point of order raised by Mark Gbillah on the provisions of the Central Bank Act, the House directed the CBN Governor to appear before the House on Thursday, December 15, 2022 to brief the House on why the policy should be allowed to stand.
