A member of the House of Representatives, Mark Gbillah has described as draconian, the cash withdrawal limits of the Central Bank of Nigeria (CBN), IgbereTV reports
The lawmaker also said the CBN Governor, Godwin Emefiele has been taking actions beyond his constitutional mandate.
“We have not heard from the CBN governor, this is a draconian way with which it was implemented,” he said on Channels Television’s Politics Today on Thursday.
Gbillah, a Labour Party (LP) member, represents the Gwer East/Gwer West federal constituency of Benue State in the green chamber.
Earlier on Thursday, he raised a point of order in the lower legislative chamber for the apex bank to halt the implementation of the new cash withdrawal policy slated for January 9, 2023 and his colleagues unanimously directed the CBN to suspend the policy.
The lawmaker, during a live appearance on Channels Television on Thursday evening, said the policy by the CBN is not to the advantage of Nigerians who transact daily with cash but “anti-people”.
According to Gbillah, Section 8, Subsection 4 of the CBN Act requires that Emefiele addresses the National Assembly twice a year on the bank’s monetary policies and plans.
He said Emefiele has been riding roughshod over the National Assembly and has not carried the legislative arm along in the operations of the bank
