Cash withdrawal limits: Senate grills CBN chiefs tomorrow

The President, Major General, Muhammadu Buhari , had on Tuesday sent for screening and approval the names of the two CBN deputy governors.The Director of Corporate Communications of the Central Bank, Mr Osita Nwanisobi, has said that Point-of-Sale operators can take advantage of an exemption to request more cash beyond the new limit.

Following the new directive, the National President, Association of Mobile Money and Bank Agents of Nigeria, Victor Olojo, had said that PoS operators would protest against the policy which he said was targeted at killing their livelihood. To enjoy the exemption, banks were required to obtain some information from the drawee and upload the same on the CBN portal created for the purpose.

Also, compliance with extant anti-money laundering and countering the financing of terrorism regulations relating to Know Your Customer, ongoing customer due diligence and suspicious transaction reporting are required in all circumstances. The group stated, “This policy will clearly undermine the efforts of the Federal Government in sustaining micro and small scale enterprises across the country as it will limit the fund in circulation due to the non-availability of cash and may totally asphyxiate small and struggling businesses before the policy is stabilized.

The Senate can't stop the CBN. The Central Bank is a fully independent body. These senators should align and stop being sad at the new policy. Change is constant.

Senate should save Nigerians by shooting down the policy

When it directly affects them, only then would you see them react.

Do they have a voice even if they are not in agreement, they always conform with whatever Buhari says and wants

Grills? Rather deceive the people 2moro

Abeg better grill oo

You mean, the corrupt and selfish senate.

How much?

Is the senate still functioning?

Lolz,senaate still exist?

Who told CBN that atiku and tinubu won’t see cash to give people? They don’t need to come out to collect cash, bullion vans knows the way to their houses

Grill nothing Toothpick senators

Pls allow CBN do their work . I know the system is a threats to the political class but good for Nigeria financial system.

Partners in the deal!😄

CBN is working with senior man in above

There won't be enough cash to buy crowd and buy votes. I pray CBN stand their ground. We must not continue to be jungle citizens according to Josep Borrel.

I hv no parents but my father is rich. My affidavit says I was born thrice in a decade, I had to drop out of Secondary sch which I never attended due to poverty & inherited real estate fortune from the underground world & made a fortune out of it..Don't be jealous 😂 Who am I ?

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