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CBN Withdrawal Policy: Oyo Motor Dealers Calls For Caution

by Seyifunmi Odunuga
December 22, 2022
in Business
Reading Time: 2 mins read
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Motor Dealers Association of Nigeria
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The newly elected chairman of the Motor Dealers Association of Nigeria (MODAN), Oyo State chapter, Alhaji Musibau Sulaimon Maito, has called on the Federal Government to urge the Central Bank of Nigeria (CBN) to reconsider its decision to peg the daily cash withdrawal limit at N50,000.00.

He made this known during his acceptance speech during the association’s election, where he was re-elected for another four years. Alhaji Maito, who polled 55 out of the 57 votes, pledged to ensure that the association continued to wax stronger.

The election, held at the New Garage, was attended by the association’s elders, including Alhaji Mutiu Oloye Arikutaku, Elder Adebayo Adebisi, and Alhaji Abdul Waheed Olawale.

Speaking after the election, Elder Olusegun Okeowo, chairman of MODAN’s electoral committee, expressed satisfaction with the peace and calm nature of the delegates drawn from all the association zones.

He, however, thanked other committee members for doing the job without bias.

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The Iyaloja Motor Dealers of Oyo State’s Chief, Mrs. Remi Akerele, in her remarks, commended the peaceful electioneering process and the activities of the credentials committee for a job well done. She noted that the returning chairman should continue to follow through on his commitment to encouraging association members.

Alhaji Maito, who was highly elated and could not hide his joyous mood, pledged to involve the elders in making decisions about the association. He, however, called on the zones to ensure they worked according to the association’s regulations.

Although other executives have yet to emerge, the association has designated the following positions: Oke-Ado, Assistant Treasurer, and Market Corporate Officer, while the Assistant Financial Secretary and Chief Whip positions are assigned to the Old Ife-Road zone.

Others include Bodija, Taskforce Control and Assistance Social Welfare, located on Ring Road, which has an assistant PRO and a social welfare secretary, and New Garage, which has a transport officer and an assistant secretary.

Tags: Alhaji Musibau Sulaimon MaitoBREAKING NEWSCBN NigeriaCentral Bank Of Nigeria Latest NewsMotor Dealers Association of Nigeria
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