Withdrawal Limit: We are not targeting politicians — CBN tells lawmakers

The Central Bank of Nigeria (CBN) has reiterated that politicians are not the target of the new cashless policy of the government.

Aisha Ahmad, a Deputy Governor of the CBN, stated this on Thursday while briefing the House of Representatives on the floor of the House.

The decision of the bank to commence the implementation of the policy some months before the election has fueled speculation that the bank may be targeting politicians.

Ahmad represented the CBN governor, Godwin Emefiele to brief the lawmakers on the withdrawal limit policy and the redesigning of the currency.

It would be recalled that the House had summoned the CBN governor on two occasions, however, he did not honour the invitation as he was abroad addressing health issues.

During a question and answer session, a lawmaker, Chinedu Obidigwe from Anambra State, said the cashless policy appears to have been designed to target politicians in the opposition parties.

He wondered why the CBN is in a rush to implement the policy.

Answering the question, Ahmad said the decision was reached after the conclusion to implement the policy, following careful deliberation.

“CBN is an independent institution and our decisions are taken based on research, and it is the work of many teams working together across the different directorates,” she said.

She added, “At no time do we make decisions based on any political consideration.”

Ahmad also informed the lawmakers that 500 million new notes have been printed by the bank.

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