After exhaustive deliberations,Nigerian governors have appointed Anambra State’s Governor Charles Soludo as the Chairman of a six-man committee to engage the Central Bank of Nigeria (CBN) over its new Naira, currency withdrawal limitation and other policies.
CBN increases weekly minimum cash withdrawal limit
Soludo got the mandate during the 36 governors’ virtual meeting with the CBN Governor, Mr. Godwin Emefiele, on Thursday night.
The Nigerian Governors Forum, however, insisted that the recent NFIU advisory and guidelines on cash transactions were outside the NFIU’s legal remit and mandate.
The NFIU had banned government organs from dealing in cash across board.
Soludo’s committee will take up issues of perceived anomalies in the country’s monetary management and financial system.
Appointed as members of the committee along with the former CBN Governor were his counterparts from Akwa Ibom, Ogun, Borno, Plateau, and Jigawa.
Although the governors said they were not opposed to the objectives of the Naira redesign policy, they demand that the apex bank consider the peculiarities of households and states, especially pertaining to financial inclusion and under-served locations.
Their communiqué said: “We, the members of the NGF, received a briefing from the Governor of the CBN, Emefiele, on the Naira redesign, its economic and security implications including the new withdrawal policy.
“Governors are not opposed to the objectives of the Naira redesign policy.
“However, we observe that there are huge challenges that remain problematic to the Nigerian populace.
“In the circumstances, governors expressed the need for the CBN to consider the peculiarities of states especially as they pertained to financial inclusion and under-served locations.”
The governors expressed their resolve to work closely with the CBN leadership to ameliorate areas that required policy variation, particularly the poorest households, the vulnerable in society, and several other Nigerians that were excluded.
