Senate Postpones Debate On CBN Cash Withdrawal Limit

Senate Postpones Debate On CBN Cash Withdrawal Limit

The senate has postponed the debate on the Central Bank of Nigeria’s (CBN) new cash withdrawal policy until Wednesday, December 14.

The absence of Senator Uba Sani, Chairman of the Committee on Banking and Finance, was due to his attendance at the All Progressives Congress (APC) presidential rally in Kaduna.

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Olubunmi Adetunmbi, a member of the committee and Senator representing Ekiti North, assured the Senate on Tuesday, December 13, that the report on the CBN withdrawal policy was ready.

Senate President Ahmed Lawan stated that the committee was formed to investigate the CBN policy in response to public concerns.

“We decided that we have an engagement with CBN so that we are able to hear from the horse’s mouth, and then go ahead and debate it or take whatever appropriate action we may need to take.

“And you know that our chairman of banking is the gubernatorial candidate of Kaduna State. And naturally, we shouldn’t expect him to be here at this time, because he needs to be there. But we also felt that we should hear from him.”

Lawan stated that the report will be presented at the plenary meeting on Wednesday.