No Going Back On Withdrawal Limits – CBN Governor Emefiele Replies National Assembly 

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CBN Governor - Godwin Emefiele

CBN Governor Godwin has said that there is no going back on withdrawal limits policy

The have already been distributed to the major commercial banks, according to Governor Godwin Emefiele, who also anticipates that banks will start distributing them to the general population soon.

 

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Ejesgist.ng gathered that Emefiele made the announcement on Thursday following a visit to at his country house in Daura, State.

 

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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..

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He underpinned that it was instead designed to strengthen ’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.

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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.

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