Deputy Governor of the Central Bank of Nigeria in charge of Financial Stability, Aisha Ahmad, has said she does not know the quantities of new notes the CBN printed and released for circulation.
She said this while responding to questions by lawmakers when she appeared before the House of Representatives to brief the House on the apex bank’s cashless policy and cash withdrawal limits.
The lawmakers had on Wednesday resolved that a deputy governor of the CBN should appear to brief the House today (Thursday) in the absence of the CBN Governor, Godwin Emefiele, who is outside the country to attend to health issues.
A lawmaker, Sada Soli, in the course of the grilling of the CBN deputy governor, raised concerns over the non-availability of the new notes, days after it was were released to the public and asked her to disclose the quantities of new notes printed.
But responding to the question, the CBN deputy governor said she does not know the quantities of notes printed by the apex bank.
In a Related News, CBN raises weekly ATM withdrawal limits from #100,000 to #500,000.
CBN has announced that individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels.
The Central Bank of Nigeria (CBN) has announced an upward review of its cash withdrawal limits directive.[ruby_related heading=”More Read” total=5 layout=1]
The apex bank announced in a circular issued Wednesday, Dec. 21, that individuals can now withdraw N500,000 cash weekly and corporate entities can now withdraw up to N5 million cash across all channels including Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals.
The circular was signed by its Director of Banking Supervision, Haruna Mustafa.
The directive becomes effective from January 9, 2023.
Recall that on December 6, 2022, the CBN ordered Deposit Money Banks (DMOs) and other financial institutions to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively.
This sparked outrage from Nigerians and the National Assembly and CBN adjusted the directive.