House of Representatives on Tuesday during plenary refused the Central Bank of Nigeria from proceeding with its cash withdrawal policy.
The lawmakers said their December 8 directive to the apex bank to put the policy on hold is still on course.
Amid protests and condemnation, the lawmakers rescheduled the CBN governor’s appearance for Thursday (tomorrow).
It was also gathered that the apex bank had not circulated any counter directive to banks and other financial institutions stopping the policy despite the resolution of the lawmakers.
The House at its plenary on December 8 summoned Emefiele to appear before it on Thursday last week to explain the latest policy by the CBN on limits to cash withdrawals at the Deposit Money Banks and other financial institutions.
Among others, the CBN, in a statement on December 6, indicated that beginning from January 9, 2023, the amounts individuals and corporate organisations could withdraw per week would not exceed N100,000 and N500,000, respectively.
The lawmakers wanted to grill Emefiele on the policy on Thursday last week but he failed to appear at the green chamber.
The Deputy Governor, Corporate Services, CBN, Edward Adamu, in a communication to the House told the lawmakers that Emefiele was part of the entourage of the President on official trip to the United States.
