CBN cashless policy: Allegations of bias trail Senate Committee enquiry

Some Senators seem not to be comfortable with the Central Bank of Nigeria (CBN) cash withdrawal policy.

The apex bank had last week introduced cash withdrawal limits of N100,000 for individuals and N500,000 for organisations per week.

On Thursday last week, the two reappointed CBN Deputy governors, Mrs Aisha Ahmad and Edward Lametek appeared before the Senator Uba Sani-led Senate Committee on Banking, Insurance and Other Financial Institutions for screening.

The business for that day was supposed to be screening, but a curious question on ‘cash withdrawal policy’ popped up.

Track News correspondent, who monitored the panel’s proceedings, observed that the Committee Chairman, Senator Uba Sani was tacitly shielding the nominees from answering questions on the policy.

Notwithstanding, Mrs Ahmad told the Committee that the policy was not targeted at anyone, recalling that the policy was introduced in 2012 to be implemented in Lagos, Abuja, Port-Harcourt and other major cities before it encountered challenges.

She insisted that cash withdrawal limitation was in the interest of the nation, assuring that there was nothing to fear about the policy.

Dissatisfied with the manner the screening was conducted, Senator Seriake Dickson representing Bayelsa West Senatorial district, while addressing the press after the meeting, insisted that the Central Bank of Nigeria should come out clean