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December 15, 2022

Cash Withdrawal Limits: I’ll brief you ‘earliest time possible’, Emefiele writes Reps

CBN Governor, Mr Godwin Emefiele

By Levinus Nwabughiogu, Abuja

Governor, Central Bank of Nigeria, CBN, Godwin Emefiele, has written the Speaker of the House of Representatives, Femi Gbajabiamila, pledging to brief the lawmakers on the recent monetary policies of the apex bank at the “earliest time possible”.

Recall that the House had, via a motion at a plenary session last week, summoned Emefiele for explanations on his recent monetary policies, especially the N100,000 weekly cash withdrawal limit slated to take off January 9, 2023.

The House had found the policy offensive and untenable and, therefore, asked the Governor to appear before it on Thursday (today) for more information on it.

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However, in a letter dated December 13, 2022, signed by the Deputy Governor, Corporate Services, Edward Adamu, and addressed to Gbajabiamila, Emefiele said he couldn’t be physically present to brief the lawmakers.

He said this was due to his trip to the United States of America with President Muhammadu Buhari.

The letter, read on the floor of the House by the Deputy Speaker and presiding officer for Thursday plenary, Idris Wase, was titled “Re – Invitation for a Briefing”.

It read: “We refer to your invitation to the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to brief the House of Representatives on recent policies of the Bank on Thursday, December 15, 2022.

“We respectfully apprise you that the CBN Governor is a member of the delegation of President Muhammadu Buhari currently attending the USA-Africa Summit in Washington D.C.

“Consequently, the governor will not be able to honour your invitation on Thursday, December 15, 2022.

“While the Governor regrets his inability to be physically present for the scheduled briefing, due to the aforementioned national assignment, he shall be available to provide the briefing at the earliest time possible.

“Please accept, Mr. Honourable Speaker, the assurances of the CBN Governor’s highest personal regards and consideration.”