Reps urge Emefiele to suspend cash withdrawal policy

The house of representatives has asked the Central Bank of Nigeria (CBN) Governor Godwin Emefiele to suspend the restrictions placed on cash withdrawal.

The CBN had announced the separate thresholds for cash withdrawal by individual and corporate organisation on Tuesday.

While an individual cannot withdraw more than N100,000 in a week,  corporate entities are restricted to N500, 000 for the same period.

Before appearing before the lawmakers, the CBN Governor visited President Muhammadu Buhari in his home state Daura, Katsina State.

He had gone to brief the president on the new policy, according to a government tweet.

More to follow …