Senate Defers Debate on CBN Cash Withdrawal Limit

Paschal Emeka, Abuja

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

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

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

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

CBN last week, pegged maximum daily 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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