Nigerian Lawmakers Summon Emefiele Over Cash Withdrawal Limits

The House of Representatives has criticized the new policy introduced by the Central Bank of Nigeria which, among others, sets limits to cash withdrawals at Deposit Money Banks and other financial institutions. <br />The House summoned the Governor of the CBN, Godwin Emefiele, to come and explain the policy to the parliament.<br />This is based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, at the plenary on Thursday. Several lawmakers warned that the policy would have serious consequences and adverse effects on businesses and Nigerians who have no access to the banking system.