The Senate has set Tuesday, December 13 to debate the latest Central Bank of Nigeria policy over cash withdrawal limits.
The Senate raised concerns in its plenary on Wednesday, according to Daily Post.
Senate Minority Leader, Aduda Phillip, asked that the senate threads carefully with the new CBN policy as it will affect many citizens, especially small business owners.
The Senate President, Ahmad Lawan, then cautioned the CBN not to approach the policy at once, directing the committee on banking to engage the CBN and discuss the matter during the screening of the CBN Deputy Governor, expected to hold before next week.
On Wednesday, the CBN created a new withdrawal policy that restricts the maximum weekly cash withdrawal over the counter by corporate organisations and individuals to N500,000 and N100,000, respectively.
The new withdrawal regime also pegged the maximum cash withdrawal per week via Automated teller Machine at N100,000, subject to a maximum of N20,000 cash withdrawal daily.
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