CBN Deputy Governor Addresses Lawmakers On Cash Withdrawal Limits

The representative of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has appeared before the House of Representatives, following his failure to honour the lawmakers’ invitation regarding the latest policy of the apex bank.

Naija News reports that the CBN Deputy Governor in charge of Financial System Stability, Aisha Ahmad, appeared before the legislators to explain the cash withdrawal limits policy.

Addressing the lawmakers, Ahmad said the CBN observed that the majority of Nigerians would not be adversely affected by the reviewed withdrawal limits.

She stated that about 94 and 82 percent of personal and corporate transactions, respectively, had been on the electronic mode of transaction.

The CBN deputy governor also told the lawmakers that the apex bank introduced the new policy in phases, with successes recorded in some of the states where it was launched.

Don’t Know The Exact Amount Of Spent On Naira Redesign – Ahmad

Speaking further, Ahmad disclosed that she could not ascertain the number of notes printed by the apex bank in the recent redesign of the naira.

She also failed to answer questions concerning how much was spent on naira redesign, and if the amount was appropriated by the National Assembly.

Recall that the House had summoned the apex bank governor who failed the two previous appointments with the lawmakers.

However, the CBN had informed the House that Emefiele would not appear before the House due to health issues, saying that he would send a representative instead.