Members of the House of Representatives have passed a motion urging the Central Bank of Nigeria (CBN) to suspend the implementation of the new cash withdrawal policy, which will start on January 9, 2023. During Thursday’s session members openly voiced their concern over the policy, which according to them may impact negatively on the society since the infrastructure that can drive the policy was not on ground. “Is there any concern for people in the rural areas that don’t have access to banking facilities and also small businesses?” Members of the house queried. The House in accordance with the Central Bank Act directed that the CBN governor must appear before it on Thursday, December 15, 2022 to throw more light on the policy and why it is necessary at this time.
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