The lawmaker representing Bauchi North Senatorial District, Adamu Bulkachuwa says the Central Bank of Nigeria’s cash withdrawal limit “looks political”.
According to him, it might seriously affect the 2023 general elections.
Bulkachuwa made these claims on Sunday when he appeared on a television programme.
The CBN, earlier this month, announced a maximum daily withdrawals via Automated Teller Machines (ATMs) and Point Of Sale (PoS) terminals at N20,000 per day following the launching of the redesigned N200, N500 and N1,000 notes.
The policy also mandated banks to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively.
In his reaction, Bulkachuwa questioned the apex bank’s policy, saying it is political.
He said, “It looks so (political) even if they say it is not because I have never been in a situation whereby during elections and electioneering campaigns where people are subjected to a situation where they cannot even buy fuel for the cars they take on campaigns.
“So, how do you reason that it will not affect the elections or how do you explain that it has nothing to do with the elections?”
