…in naira redesign
The Deputy Governor of the Central Bank of Nigeria (CBN) Aisha Ahmad, on Thursday, briefed the House of Representatives on the bank’s latest policies.
Premium Times reports that Ahmad represented the Central Bank Governor, Godwin Emefiele, who is currently out of the country attending to health challenges.
The House had summoned the CBN governor over the cash withdrawal limit and the redesigning of the currency.
The CBN had on 6 December announced a new policy limiting over-the-counter cash withdrawals by individuals and corporate entities to N100, 000 and N500, 000, respectively, per week.
On Wednesday, the CBN announced a review of the policy with individual withdrawal limit now pegged at N500,000 weekly and organisations N5 million weekly.
The bank had redesigned N1,000, N500 and N200 bills, and fixed 31 January as the deadline for the old notes to cease to be legal tender.
Emefiele had failed to honour two previous invitations of the House. On Wednesday, the lower chamber approved the request by the CBN to allow Ahmad, who is the deputy governor, Financial System Stability, to brief the House.
While responding to questions raised by the lawmakers on the total amount of money printed, Ahmad said a total of 500 million mint notes were ordered by the bank. She was however unable to provide the exact amount printed.
