Senate set to debate N100, 000 a week withdrawal

Central Bank of Nigeria’s proposed cashless policy is up for debate next week in the Senate as public concern continues to grow, about the practicality of the N100,000 per week withdrawal for individuals and N500,000 a week for businesses. Senators during plenary session Wednesday raised an alarm over how the policy will affect Nigerians and their lifestyle. According to the Senate president Ahmad Lawan, there was no need to rush the policy through without adequate planning and research on how it might impact on the lives of citizens. “As good as the cashless policy may be, it shouldn’t be jumped at, at once. The way CBN is going about the policy, many Nigerians would be cut off and that won’t be accepted. “Motion on the policy will be thoroughly debated in the Senate on Tuesday next week after adequate information has been gotten on it.”