House of Representatives Orders The Central Bank To Suspend Cashless Policy On Bank Deposits
Written by Smooth FM on September 20, 2019
The House of Representatives yesterday has ordered the Central Bank of Nigeria (CBN) to suspend the cashless policy on bank deposits, that started on Wednesday.
Adopting a motion under matters of urgent national importance sponsored by Mr. Ben Kalu at the plenary yesterday, the lawmakers said that the suspension of the policy would last until appropriate and extensive consultative process are concluded on the issue.
The House then mandated its Committee on Banking and Currency to interface with the CBN to ascertain the propriety of the policy in view of the prevailing economic situation of the country and to report back to the House within four weeks.