BREAKING: CBN Deputy Governor appears before House of Reps
The Deputy Governor of the Central Bank of Nigeria, CBN, Aisha Ahmad has appeared before the House of Representatives to brief lawmakers on the apex bank’s cashless policy and cash withdrawal limits.
The lawmakers had on Wednesday resolved that a deputy governor of the CBN should appear to brief the House today (Thursday) in the absence of the apex bank Governor, Godwin Emefiele who is outside the country to attend to health issues.
Addressing the lawmakers, Ahmad who is in charge of Financial Stability, at the CBN, said the apex bank policy pronouncement of December 5 was a continuation of the cashless policy launched about 10 years ago.
She said it was not intended to disenfranchised Nigerians but meant to bring all segments of the society into the formal banking systems.
Aisha said the CBN observed that about 94 and 82 per cent of personal and corporate transactions, respectively, had been electronic, meaning that the majority of Nigerians would not be adversely affected by the reviewed limits.