Emefiele writes Reps over briefing on cash withdrawal limits

Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), has written to the House of Representatives, assuring the parliament that he would brief the lawmakers on the recent monetary policies of the apex bank at the “earliest time possible”.

The House had last Thursday directed the CBN to suspend the implementation of the new cash withdrawal policy billed to take off on January 9, 2023, pending compliance with the provisions of the Act establishing the apex bank.

It also summoned the CBN governor to brief the parliament on several policies of the bank recently, particularly the new currency and the withdrawal limit policy of N100,000 and N500,000 for individuals and organisations respectively this Thursday.

But at resumed hearing on Thursday, the House received a letter addressed to the speaker, Femi Gbajabiamila, explaining why Emefiele cannot honour the summon.

The letter dated December 13, 2022 with a reference number GVD/DGC/CON/NAS/002/055, signed by Edward Adamu, the CBN deputy governor, corporate services, Emefiele said he could not be physically present to brief the lawmakers due to his trip to the United States of America with President Muhammadu Buhari.

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Titled “Re-invitation for a briefing”, the letter read on the floor of the House by Idris Wase, the deputy speaker and presiding officer for the plenary stated that: “We refer to your invitation to the Governor of the Central Bank of Nigeria, 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.

The briefing has been rescheduled for next week Tuesday, December 20, 2022 at plenary.