House of Representatives, on Thursday, kicked against the new policy introduced by the Central Bank of Nigeria which limits cash withdrawals at the Deposit Money Banks and other financial institutions.
The House, therefore, summoned the CBN Governor, Godwin Emefiele, to come and explain the policy to the lawmakers.
Emefiele is to appear before the lawmakers next Thursday.
This followed a motion of urgent public importance moved by a member of the House, Aliyu Magaji, at Thursday’s plenary.
Many of the lawmakers warned that the new cash withdrawal policy would have serious consequences and adverse effects on businesses and Nigerians who have no access to the banking system.
But Minority Leader, Ndudi Elumelu, said the policy would check crimes as funds would now be tracked through the banking system.
Elumelu said though the timing might be wrong, the country would benefit more from it.
