The Central Bank of Nigeria, CBN, has confirmed that it is still engaging with all stakeholders on the best options to manage the policy on cash withdrawal limit.
Deputy Governor of the CBN incharge of financial systems stability, Mrs. Aisha Ahmad, made the confirmation on Friday, while addressing Senators on the january 9th deadline for the latest policy.
Mrs. Ahmad, and Mr. Edward Adamu were in the senate to undergo screening and possible confirmation of their reappointments by President Buhari, as Deputy Governors of the CBN.
Mr. Edward Adamu is incharge of corporate services as Deputy Governors of the CBN.
Although the meeting was for screening and confirmation of the two nominees, the Senators focused more on understanding the rationale behind the cash withdrawal limits which has been met with wide criticisms.
Mr. Ahmad who gave insight into the policy, appealed for calm among Nigerians, stressing that the CBN remains open to wider engagements, while the january 9th deadline also remains “flexible and not sacrosant”.
She also urged Nigerians to show more understanding by appreciating the fact that the cashless policy has numerous benefits to the economy and Nigerians themselves.
The CBN Deputy Governor incharge of financial system stability, recalled that money banking, e-naira, internet banking, agency transactions, were among the channels open to Nigerians to do business, without necessarily carrying cash.
Senate thereafter, allowed the nominees to take a bow, in line with its traditions.
The senate committee on banking, insurance, and other financial institutions, is chaired by Senator Uba Sani.
It would be recalled that the Centrsl Bank of Nigeria CBN, recently announced january 9th as deadline to begin implementation of 100,000 naira per week withdrawal limits for individuals, and 500,000 naira for corporate entities.
