CBN: Emefiele Summoned By Reps Over Withdrawal Limit Policy

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has been summoned by the House of Representatives over the recent policy on the limit on cash withdrawals.

The development was disclosed on Twitter and comes after a resolution was made by the lawmakers during plenary on Thursday.

“The House of Representatives @HouseNGR, through a resolution, invites @cenbank Governor @GodwinIEmefiele to appear before the House on Thursday 15th December 2022 at 11 am to shed light on the newly proposed naira redesign and withdrawal limit policies,” the tweet reads.

Breaking...@HouseNGR, through a resolution, invites @cenbank Governor @GodwinIEmefiele to appear before the House on Thursday 15th December 2022 at 11 am to shed light on the newly proposed naira redesign and withdrawal limit policies.

— House of Reps NGR (@HouseNGR) December 8, 2022

The Apex Bank will be questioned on the new policy on Friday, December 9 as clarifications on the new directive will be sought by the red chamber concerning the policy which takes effect from January 9, 2023.

Citizens have expressed their displeasure with CBN's recent decision, with many saying it is yet another move to oppress the masses.