CBN withdrawal limits: Senate postpones debate

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Following the absence of the Chairman of the Committee on Banking and Finance, Senator Uba Sani, the Senate has postponed its debate on the new Central Bank of Nigeria (CBN) cash withdrawal policy till 14th December 2022.

On Tuesday Senator Olubunmi Adetumbi, a member of the Committee in a Point of Order explained that ”the report which was to be presented at the plenary had to be withheld because Sani is away for the All Progressive Congress (APC) rally in Kaduna.

The Senate President Ahmad Lawan, in his response, urged lawmakers to be patient as the findings of the Committee would be unveiled within 24 hours.

However, another lawmaker, Senator Bulkachuwa Muhammed, who warned that the Senate should not sweep the issue under the carpet because of its significance, also noted that the House of Representatives invited the CBN Governor, Godwin Emefiele to appear before the House to discuss the policy.

The CBN had last week, pegged daily maximum withdrawals via Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals at N20,000.

Also, Senator Uba is expected to give details on the outcome of the screening of Edward Adamu and Aisha Ahmad as deputy governors of the CBN.

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