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CBN Punishing Nigerians with Disastrous Policies

CBN Punishing Nigerians with Disastrous Policies

The CBN’s newest policy of limiting cash withdrawals to particular amounts has sparked outrageous reactions from Nigerians both in the country and abroad.

The former Education Minister, Oby Ezekwesili, was not left out as she had accused the apex financial institution in the country of frustrating innocent Nigerians for the sins they never committed.

This was as on Tuesday, November 7, CBN had announced a policy limiting weekly cash withdrawals over the counter to N100,000 for individuals and N500,000 for organizations irrespective of their size.

The apex financial institution had also put an N20,000 per day limit on POS withdrawals, to take effect from January 9, 2023.

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But Ezekwesili, who commented on the proposed monetary policy in a series of tweets on Wednesday, labeled it a disastrous policy while slamming the apex financial institution for making life difficult for ordinary Nigerians.

She tweeted: “What is with this constancy of disastrous Monetary Policies by CBN? How did an institution that should model respect for Economic Evidence in Policymaking become an expert on the agent of suffering in this country?”

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