Embattled Emefiele shuns House of Reps

Embattled governor of Nigeria’s Central Bank Godwin Emefiele has again shunned an invitation to him to appear before the House of Representatives.

The lower legislative chamber has sought clarification from Emefiele over the controversial cash withdrawal limit.

Emefiele had failed to meet his initial appointment with the legislators on the pretext that he was on an official assignment in the United States.

Emefiele, a banker until his appointment to head the apex bank, said he was still outside the country as of Tuesday (today).

Based on his excuse, the legislators have rescheduled his appearance to be held on Thursday.

Emefiele has been in the news lately over his actions.

He had lately imposed certain conditions on cash withdrawal, pegging daily cash collection from banks and Automated Teller Machine (ATM) at 20,000 for individuals and Corporate, N50,000.

In the same vein, N100,000 and N500,000 are set thresholds for weekly individual and corporate withdrawals.

Many critics of the guideline believe it would hurt small businesses, with the potential of layoffs of Point of Sale (PoS) operators.

But, the Bank insists that the guideline rather would enable it to take firm control of money in circulation. It also argues that the policy would checkmate terrorism financing and vote-buying in the next general election, 2023.

Before now, he had attempted the presidential ticket of the ruling party even though he denied being directly involved. Pictures of numerous campaign buses and posters branded in his name had surfaced on social media.

The sitting CBN governor equally put up legal fights to validate his eligibility to vie for the presidency, as against ethical issues his critics had raised at the time.



Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this: