The governor of the Central Bank of Nigeria, Godwin Emefiele has said that the reintroduced cashless policies are geared towards placing the country on the path of progress and growing the economy and not targeted at anyone.
Recall that CBN released its latest policy on Tuesday, restricting the maximum cash withdrawal over the counter (OTC) by individuals and corporate organizations per week to N100,000 and N500,000 respectively.
This latest policies have received more criticism than praises from Nigerians, as many believed it’s ill-timed and could further have negative impact on the country’s struggling economy which is largely driven by the informal sector that will be affected more by the policies.
Some politicians have also said the policies are targeted at them.
The CBN governor, Godwin Emefiele, made it clear the policies are not targeted at anybody but are for the good and development of the Nigerian economy.
Speaking at Daura on a visit to brief President Muhammadu Buhari on the naira redesign and the cashless policy of the apex bank, he said that no one will be affected.
The CBN boss said, “The newly redesigned N200, N500, and N1,000 banknotes are now in banks and ready for issuance to members of the public.
“The currency redesign and [the] reintroduced cashless policies are not targeted at anybody but are for the good and development of the Nigerian economy.
“The CBN deferred the cashless policy severally to prepare and deepen Nigeria’s payments system infrastructure,” he said.