Senate raises committee on upgrade of Agriculture College to Varsity The Informant247

The Senate has postponed its discussion on the cash withdrawal policy initiated by the Central Bank of Nigeria, CBN.

The Red Chamber has postponed the debate on the CBN policy till 14th December 2022.

This came as a result of non-appearance of Senator Uba Sani, the Chairman of the Committee on Banking and Finance.

A member of the committee, Senator Olubunmi Adetumbi, a member of the Committee on Tuesday, revealed that ”the informational report that was to be given to the Senate had to be kept because the chairman of the committee has gone for the campaign rally of the All Progressive Congress (APC) in Kaduna.

The Senate President Ahmad Lawan, calmed the senators as he said the outcome of the work done by the committee would be made available in the next 24 hours.

Another member of the Senate, Senator Bulkachuwa Muhammed, while reacting to the issue sent message of warning to the House not to sweep the matter under the carpet.

Muhammed recalled that House of Representatives has summoned the CBN boss, Godwin Emefiele to show up before the House to defend the policy.

The Central Bank of Nigeria, CBN, has reduced the amount a person can withdraw on individual account daily to N20,000.

The CBN has reduced the amount a person can withdraw over the counter third party cheques daily to N50,000.

The decision of the apex bank will reduce the flow of cash in circulation ahead of the official release of the newly redesigned Nigerian currency.

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