Godwin Emefiele, Governor of the Central Bank of Nigeria, has stated his willingness to revisit some of the rules if necessary stated in its cash withdrawal policy that has sparked controversy since its announcement....CONTINUE READING THE FULL ARTICLE>>>
However, Emefiele noted that the policy will not be scraped or discarded as suggested by some Nigerians.Readmore
Punch reports that Emefiele disclosed this on Thursday, 8 December 2022 during a visit to President Muhammadu Buhari in Daura, Katsina state.
Legit.ng had earlier reported that CBN from January 6 is seeking to implement weekly cash withdrawal limits of N100,000 and N500,000 for individuals and corporate bank customers respectively.
The policy also placed limits on Point of Sale(POS) transactions including Automatic Teller Machines (ATMs).
Speaking on the policy, Emefiele assured that the apex bank would not be rigid on the policy as it was not meant to hurt anybody but to strengthen the nation’s economy.
New naira notes
Concerning the new naira notes, the CBN governor stated that banks have already received new notes and are prepared to distribute redesigned naira notes to Nigerians beginning December 15, 2022.
Emefiele also disclosed that since the announcement of the new policy, the apex bank has taken more than N500 billion from the banks and has also deposited close to that number there, BusinessDay reports.
He said:
“Only yesterday, the new currency has now reached the banks and we believe that the banks will begin to distribute them to the members of the public who are their customers,”
The governor also added that the visit was also to assure the president of no hitches so far in the implementation process.
Emefiele assured that there were already 1.4 million super agents all over the country offering banking services that citizens can explore, particularly the rural dwellers.
List of approve CBN bank charges
Meanwhile, in another report, Legit.ng provided a breakdown of the list of various electronic bank charges.
The list of electronic bank charges is set to become more prominent as the CBN places limits on cash withdrawals.
When the policy goes into force, it is expected that more Nigerians will use electronic channels for transactions.
