Politics: Cash withdrawal policy: Reps re-invite CBN gov for explanation tomorrow

By Levinus Nwabughiogu

House of Representatives at plenary, yesterday, re-invited the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, to fully brief the lawmakers on his recent monetary policies, especially the cash withdrawal limit of N100,000 weekly.

It will be recalled that the House had via a motion at a plenary session penultimate week summoned Emefiele for explanations on the policy slated to take off January 9, 2023.

The House had found the policy untenable and asked the governor to appear before it onDecember 15, 2022 for more information on it.

But the Governor was not available on that day to brief the House.

He, however, wrote to the Speaker of the House, Mr. Femi Gbajabiamila, pledging to brief the lawmakers at “earliest time possible.”

In the letter dated December 13, 2022, by the Deputy Governor, Corporate Services, Edward Adamu and addressed to Gbajabiamila, Emefiele said he couldn’t be physically present to brief the lawmakers due to his trip to the United States of America with President Muhammadu Buhari.

Similarly, on Tuesday, Emefiele sent another letter to the Speaker, saying he would still not be available because he was still engaged with an official assignment outside the country.

Based on the development, the House resolved to re-invite the CBN governor on Thursday this week to brief the lawmakers.

Earlier, the minority leader, Ndudi Elumelu had reminded the House that it had already taken a resolution on the matter, asking that the policy be suspended.

He said that what the House should take interest in was the implementation of the resolution and not necessarily the appearance of the governor.

Ruling on the matter, speaker Gbajabiamila said it was necessary that Emefiele or his deputy with the required information appears to fully brief the House as stipulated by the law of the land and the resolution of the parliament, adding that he would want to know the official assignment that had kept the governor away for two weeks.

The post Cash withdrawal policy: Reps re-invite CBN gov for explanation tomorrow appeared first on Vanguard News.

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