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Presidency Speaks On Governors Meeting Buhari Over CBN’s Naira Withdrawal Limit


The Presidency has said a date is yet to be fixed for President Muhammadu Buhari to meet with a delegation of Nigeria Governors Forum (NGF).

Naija News reports that governors, across party lines, had resolved to meet Buhari over their rejection of the N100,000 and N500,00 cash limit for indidviduals and corporate organisations recently announced by the Central Bank of Nigeria (CBN).

A source told Daily Sun that Buhari’s itinerary is not known having just returned to the country from the official visit to Washington DC, the United States of America, where he participated in the US-Africa Leaders’ Summit.

Naija News reports that the forum, after its meeting in Abuja last Thursday, resolved to send a delegation to President Muhammadu Buhari to direct the CBN to review the policy.

A source revealed that the state governors, across party lines, believe the new CBN policy will pitch Nigerians against the administration of President Buhari.

A source said that governors also resolved to appeal to Buhari to retain the prevailing cash withdrawal limits in the country and extend the January 30th, 2023 deadline for the phasing out of the redesigned Naira notes.

The source said: “Our decision was across party lines. We were all united that the policy will adversely affect the poor in the rural areas which Buhari administration seeks to protect.

”With likely job losses of about 1.4million by POS operators, there is no way the rural populace can survive this policy. It is like bringing down the ceiling on the economy.

“It is becoming ridiculous that some banks now issue out as low as N2,000 to a customer. Also, no matter how influential you are, banks may only give N200, 000 new notes under the table.

“As governors, we are closer to the grassroots more than the President. This policy may set the masses against Buhari. It is not a good exit package from a President who has enjoyed the confidence of the masses.”

Another governor also said: “We agreed to beg the President to have a rethink and retain the status quo cash limits to save the economy.

“Having tried his best to salvage this economy, no individual should ruin Buhari’s achievements with a stroke of the pen.

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“The CBN policy is unpopular but those profiting from it do not want him to see the other side of the coin.”

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