{"id":425792,"date":"2011-05-17T23:44:40","date_gmt":"2011-05-17T23:44:40","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/17\/reps-move-against-cbn%e2%80%99s-withdrawal-policy-%e2%80%a2say-nigeria-not-ripe-for-it\/"},"modified":"2011-05-17T23:44:40","modified_gmt":"2011-05-17T23:44:40","slug":"reps-move-against-cbns-withdrawal-policy-%e2%80%a2say-nigeria-not-ripe-for-it","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/17\/reps-move-against-cbns-withdrawal-policy-%e2%80%a2say-nigeria-not-ripe-for-it\/","title":{"rendered":"Reps move against CBN\u2019s withdrawal policy \u2022Say Nigeria not ripe for it"},"content":{"rendered":"
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|\u00a0Print\u00a0|<\/a>\u00a0E-mail<\/a><\/p>\n

Written by Kolawole Daniel, Abuja<\/span> Wednesday, 18 May 2011<\/span><\/p>\n<\/div>\n

THE House of Representatives, on Tuesday, moved against the Central Bank of Nigeria\u2019s (CBN\u2019s) new policy statement pegging deposit and withdrawal of money by bank customers at N150,000 per transaction for individual and N1 million for corporate body in a day.<\/p>\n

To this end, the House directed the Federal Government to ask the CBN to suspend the policy, because Nigeria is not ready for such a policy, noting that if the policy will stand, necessary enlightenment programme should be embarked upon by the CBN.<\/p>\n

The House\u2019s objection to the CBN policy was sequel to a motion moved by Honourable Jumoke Thomas-Okoya condemning the apex bank\u2019s move, saying Nigeria\u2019s economy is not ripe for such a policy.<\/p>\n

Honourable Okoya had said while moving her motion that, \u201cif this implementation is successful, small-scale businesses will automatically collapse, agro-allied businesses will remain stagnant, thereby making the banking sector to completely suffer patronage.<\/p>\n

\u201cI urge the executive to stop this policy or alternatively, raise the bar to a reasonable sum. Cattle sellers should be put into consideration, pretty traders, butchers market women, among others.<\/p>\n

\u201cWhen people refuse to patronise banks crime will be on the increase and some of us will suffer,\u201d she said.<\/p>\n<\/div>\n

Read more here:
\nReps move against CBN\u2019s withdrawal policy \u2022Say Nigeria not ripe for it<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

|\u00a0Print\u00a0| \u00a0E-mail Written by Kolawole Daniel, Abuja Wednesday, 18 May 2011 THE House of Representatives, on Tuesday, moved against the Central Bank of Nigeria\u2019s (CBN\u2019s) new policy statement pegging deposit and withdrawal of money by bank customers at N150,000 per transaction for individual and N1 million for corporate body in a day. To this end, the House directed the Federal Government to ask the CBN to suspend the policy, because Nigeria is not ready for such a policy, noting that if the policy will stand, necessary enlightenment programme should be embarked upon by the CBN. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-425792","post","type-post","status-publish","format-standard"],"yoast_head":"\nReps move against CBN\u2019s withdrawal policy \u2022Say Nigeria not ripe for it - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/17\/reps-move-against-cbns-withdrawal-policy-\u2022say-nigeria-not-ripe-for-it\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Reps move against CBN\u2019s withdrawal policy \u2022Say Nigeria not ripe for it - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"|\u00a0Print\u00a0| \u00a0E-mail Written by Kolawole Daniel, Abuja Wednesday, 18 May 2011 THE House of Representatives, on Tuesday, moved against the Central Bank of Nigeria\u2019s (CBN\u2019s) new policy statement pegging deposit and withdrawal of money by bank customers at N150,000 per transaction for individual and N1 million for corporate body in a day. 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