Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has revealed that the new naira notes have already been distributed to commercial banks and will soon be distributed to the general public.
Following a visit to President Muhammadu Buhari in Daura, Katsina State, Emefiele made the announcement on Thursday.
In response to criticism about the cash withdrawal policy from the National Assembly and the general public, the CBN governor told journalists that the restriction was not intended to harm anyone.
He emphasized that it was instead intended to strengthen the nation’s economy, assuring that no policy rigidity or reversal would occur.
He urged Nigerians to support the policy while the central bank monitors the situation to alleviate any hardships.
The Senate and House of Representatives had previously criticized the CBN’s announcement of revised cash withdrawal limits of N100,000 for individuals and N500,000 for businesses, arguing that it would worsen the current economic situation.
He urged Nigerians to support the policy while the central bank monitors the situation in order to alleviate any difficulties.
The Senate and House of Representatives had previously criticized the Central Bank of Nigeria’s announcement of revised cash withdrawal limits of ₦100,000 for individuals and N500,000 for businesses, arguing that it would exacerbate the current economic situation.
