CBN Governor Godwin Emefiele has said that there is no going back on withdrawal limits policy
The new naira notes have already been distributed to the major commercial banks, according to CBN Governor Godwin Emefiele, who also anticipates that banks will start distributing them to the general population soon.
Breaking: Reps orders CBN to suspend new cash withdrawal limit policy
Ejesgist.ng gathered that Emefiele made the announcement on Thursday following a visit to President Muhammadu Buhari at his country house in Daura, Katsina State.
CBN New Policy on Cash Withdrawal Limit, Everything you need to know
The CBN governor told journalists that the restriction on cash withdrawals was not meant to harm anyone in response to criticism of the policy from the National Assembly and the general public..
He underpinned that it was instead designed to strengthen the nation’s economy, as he assured that there will be no rigidity on the policy and no reversal.
He again appealed to Nigerians to embrace the policy as the apex bank monitors the situation to allay any hardships.
Ejesgist.ng had earlier reported that the Senate and the House of Representatives had earlier faulted the CBN’s unveiling of a revised cash withdrawal limits with a maximum of N100,000 for individuals and N500,000 for companies, arguing that it might worsen the current economic situation.
