SDP Presidential Candidate Kicks Against Naira Withdrawal Limit Policy In Nigeria
Mackenzie
1 min read
SDP Presidential Candidate Kicks Against Naira Withdrawal Limit Policy In Nigeria
The 2023 presidential candidate of the Social Democratic Party, SDP, Prince Adewole Adebayo, has described the Naira withdrawal limit policy placed by the Central Bank of Nigeria as a plot against the masses and opposition.
Recall that a few days ago, the CBN placed a Naira withdrawal limit of N100,000 per week, which will begin on January 9, 2023,
While giving his take on the policy, Adebayo said: “It is not a policy. It is a scorched-earth stratagem against the masses and perceived opposition.
“While a cashless society is desirable, macroeconomic considerations warrant a well thought out plan to ensure that common people don’t suffer a decline in productivity and financial intermediation hiccups that amount to virtual exclusion from mainstream economic participation.
“This rash measure taken by the Central Bank is yet another cosmetic bandage over a festering sore of fiscal irresponsibility, monetary recklessness, and lax security settings. They won’t produce any desired results other than creating income for promoters of payment systems.
“This is systematic capture of vast swathes of the financial transactions by those remote controlling the apex bank.
“I disagree with the measures just taken by the CBN. They need to be revised,” he said
About Post Author
