February 2, 2023

The Boss of Central Bank of Nigeria, CBN, Godwin Emefiele has noted that there is no plan to reverse the new cash withdrawal limit policy slated for take-off on January 9, 2023.

It however hinted necessary reviews of the details of the policy would be carried out after implementation.

Recall that IsL had earlier reported that the former APC presidential aspirant had indifferent occasion showed no sign of relenting in the new withdrawal limits policy.

Emefiele, who disclosed this to State House Correspondents in Daura, Katsina State after a meeting with President Muhammadu Buhari, also said the policy is not targeted at any particular person but aimed at developing the economy.

A section of the public, especially the National Assembly, has kicked against the new policy, which many believe will make life difficult for Nigerians, affecting those in the small business enterprise cadre.

The House of Representatives on Thursday asked the CBN to suspend the policy until it adheres to the Act establishing it, summoning the Governor to brief members on it.

But Emefiele said he has the President’s backing for the current monetary redirection efforts, saying Buhari “was very very happy and said we should carry on our work, no need to fear, no need to bother about anybody”.

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