Wednesday, December 14, 2022, the Senate will discuss the Central Bank of Nigeria's (CBN) cash withdrawal policy.
It was announced last week that lawmakers would debate the new withdrawal limit set by the apex bank this coming Tuesday.
Individuals and corporations would only be permitted to withdraw N100,000 and N500,000 from ATMs each week starting on January 9, 2023, respectively. Additionally, only notes valued at N200 or less should be kept in bank ATMs.
It suggested a weekly ATM withdrawal maximum of N100,000 and a daily withdrawal cap of N20,000.
The Central Bank of Nigeria (CBN) instructed its Committee on Banking and Finance on Wednesday of last week to look into the Policy and examine the renominated Deputy Governors proposed by President Muhammadu Buhari before sending their names to Congress for confirmation.
But when the plenary met again on Tuesday, Senator Olubunmi Adetumbi informed his colleagues that the report couldn't be presented since the chairman of the committee, Uba Sani, was in Kaduna for an APC presidential rally.
The Senate was reassured by Adetumbi that the Committee on CBN Withdrawal Policy report is finished. He did, however, mention that the committee chairman was required to go to the APC Zonal rally because he was running for governor of Kaduna State.
In response, Senate President Ahmad Lawan encouraged lawmakers to postpone the announcement of the committee's findings until the next day.
Uba will also have to inform his fellow CBN employees of the findings of the background investigations done on Edward Adamu and Aisha Ahmad.