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Cash Withdrawal Policy: Emefiele To Appear Before Reps Soon — CBN

Cash Withdrawal Policy: Emefiele To Appear Before Reps Soon — CBN
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The Governor of the Central Bank of Nigeria, Godwin Emefiele, failed to appear before the House of Representatives, on Thursday, over the latest by the apex bank policy which, among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.

The Deputy Governor, Corporate Services, CBN, Edward Adamu, in a communication to the House, told the lawmakers that Emefiele was part of the entourage of President Muhammadu Buhari, on an official trip to the United States.


Deputy Speaker of the House, Ahmed Wase, read out the letter to members at the opening of plenary on Thursday.

Adamu said the CBN governor would appear before the House to defend the policy “at the earliest time possible.”

The House had on Thursday last week summoned Emefiele to come and explain the policy to the parliament, considering a joint session with the Senate to grill the CBN governor.

The resolutions were based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, while another member, Ibrahim Olanrewaju, raised a point of order urging the chamber to demand suspension of the policy until the lawmakers conclude their investigation, a prayer that was unanimously granted.

Olanrewaju had noted that Emefiele’s appearance today might fail and the lawmakers were billed to go on break, while enforcement of the CBN policy was to commence on January 9, 2023 – before their resumption next year.

Image courtesy of Akinshola Lucky Akintelure - ApplesBite International Magazine
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Akinshola Akintelure is a Content Writer, a tech savvy and Social Media Manager.

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