NewStats: 3,261,554 , 8,174,371 topics. Date: Thursday, 29 May 2025 at 04:15 PM 1z5m25

The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the implementation of the new cash withdrawal policy slated for January 9, 2023 pending compliance with the provisions of the Act establishing the bank.

The House also summoned CBN Governor Godwin Emiefele in accordance with the provisions of the Central Bank Act to brief the Chamber on several policies of the bank in recent times.

There was anger in the House on Thursday as took turns to condemn the new cash withdrawal policy, saying it will grossly affect small businesses and the economy since most rural communities don’t have access to banks.

However, following a point of order raised by Mark Gbillah on the provisions of the Central Bank Act, the House directed the CBN Governor to appear before the House on Thursday, December 15, 2022 to brief the House on why the policy should be allowed to stand.

Sponsor of the motion, Magaji Da’u Aliyu, said the new policy by the CBN, which limits daily cash withdrawal to N20,000 daily should not be allowed to stand as it will adversely affect the Nigerian people, especially those running small-scale businesses.

He said while the country was trying to come to with the decision to redesign the currency, the CBN was coming up with yet another policy that will adversely affect the masses without proper advocacy.

https://community.thenationonlineng.net/forum/breaking-house-of-reps-orders-cbn-to-suspend-new-cash-withdrawal-?xg_source=twitter

They have no power to do that, unless they amend the relvevant legeslation that gives CBN autonomy in monetry affairs

I agree to the fact that it will affect we Nigerians. But, it should not be reversed till after the election

20k withdrawal limit is too small. 50k should have been better

Very good

They know what they are doing.
It's all about the drive towards a Globalist Central bank Digital Currency. (CBDC)
Unfortunately over 70% of Nigerians know little or nothing about these things.

They are testing the ground to see reactions towards a Globalist CBDC.
Over a 100 Nations in the world are test running same right now.
Globalist Great reset/New world Order things.

Very soon it will be Enforced.
If you know you know.

Buhari will soon order the house of reps to keep off. Emefiele is doing everything with his approval and the goal is to stop Tinubu's bullion vans from moving on election day. Peter Obi is our next president.
Urchins argue with your keyboards.

So if I have 50k there na and I won't to use it for my important stuff this is the story they will be saying, you are not sure

And" me for your academic assignment WhatsApp me

Litters will like this new development

This lawmakers no sabi law o! You can only summon the CBN governor but you can't suspend anything. The CBN is an autonomous entity.

Bluntguy:
Buhari will soon order the house of reps to keep off. Emefiele is doing everything with his approval and the goal is to stop Tinubu's bullion vans from moving on election day. Peter Obi is our next president.
Urchins argue with your keyboards.

Hahahaha!...no wonder Nnamdi Kanu use una head for 5 years and has now handed over to Simon Ekpa.

Okoroawusa:

Hahahaha!...no wonder Nnamdi Kanu use una head for 5 years and has now handed over to Simon Ekpa.

They are both more sensible than Tinubu and you urchins.

BOLATINUBU01:
Very good

It will not work, Tinubu boys are wasting their time

It should be fine tuned instead of suspending it

post=119001951:

It will not work, Tinubu boys are wasting their time

only option for you

Ccc

This policy will affect 98% of Nigerians


its dead on arrival policy

Lobatan

Writer01:
So if I have 50k there na and I won't to use it for my important stuff this is the story they will be saying, you are not sure

And" me for your academic assignment WhatsApp me

Very important stuff u mean pricy ashawo ? And lodge

As if they have the balls
They can only bark, bunch of rubber stamped legislooters

Foolish people; the CBN is autonomous & you can't be ordering them!

Confusion has taken over this APC government!

If CBN obey this order make I no Wetin cause am

Lawmakers That Don't Know The Law

Bunch of Agbada-wearing Clowns

Righteousness2:
They know what they are doing.
It's all about the drive towards a Globalist CBDC.

They are testing the ground to see reactions towards a Globalist CBDC.
Over a 100 Nations in the world are test running same right now.
Great reset/New world Order things.

Very soon it will be Enforced.
If you know you know.

You're an overgrown idiot.
Please face your religion and leave financial matters for the experts.
Abi when it's enforced, you'd stick to cowries and trade by barter?
Don't be foolish

Nigeria is honestly not ripe for such policy,
We have a very poor network.... imagine doing transfer and the money Hangs....
The literacy rate in Niagara is so poor...many pipo (Market women to be precise) can't be able to execute a transfer using Mobil banking app or ussd.

Election next year will be the best Nigeria ever had in a long while