The Central Bank of Nigeria's (CBN) new N100,000 per week withdrawal policy, which will take effect on January 9, 2023, has drawn criticism from Mr Dumebi Kachikwu, the presidential candidate for the African Democratic Congress (ADC), who claims it will harm the general public.
He claims that the new policy is simply another manifestation of the Federal Government, which is led by the All Progressives Congress (APC), being desperate to maintain the economy by misleading Nigerians.
His words: “The APC Government continues to wag the dog, and unfortunately, most Nigerians fail to realise they are being scammed.
“The Nigerian economy has collapsed, and instead of admitting that they have run out of solutions, they continue to deceive the gullible public.
“I have always maintained that the redesign of the naira was a gimmick meant to cover up the collapse. They are deceiving Nigerians that it is about elections and most Nigerians are buying it, but it is not valid.
“Nigerians should study what happened in Lebanon, Greece, Zimbabwe and Venezuela and understand how failed governments restrict cash withdrawals to slow down the economy’s collapse. This is the same thing the APC government is doing.”