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Emefiele And Governors Will Meet To Discuss Withdrawal Policy, Naira Redesign

The governors of the 36 states intend to meet with the Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday to discuss the current withdrawal policy and the redesigned naira notes.

The governors will meet with Emefiele to discuss “the economic and security ramifications of the current withdrawal strategy and currency redesign,” according to a statement released Tuesday night by the Nigeria Governors’ Forum’s spokesperson, Abdulrazaque Bello-Barkindo.

On October 26, 2022, the CBN announced its decision to redesign the naira notes and ordered Nigerians to exchange their naira notes at banks by January 31, 2023.

Spokesperson Bello-Barkindo said the Chairman of the NGF, who is the Sokoto State Governor, Aminu Tambuwal, had invited Emefie to meet with the governors on Thursday at 9:00 pm, virtually.
The spokesperson while referring to the NGF’s Director General, Mr. Asishana Okauru, noted that the virtual meeting would focus on the latest apex bank’s withdrawal policy and naira He said, “For the virtual meeting, the agenda is titled, “The Economic and Security implications of naira redesign and withdrawal policy.

Naira Redesign: We’ve More Governors On Watchlist – EFCC

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“The discussion promises to foster participation and dialogue between various stakeholders including governments and civil society organisations to come up with a solution to the lingering issue.”

ANAEDOONLINE.NG reported how the CBN pegged the maximum weekly limit for cash withdrawals across by individuals and corporate organisations to N500,000 and N5 million, respectively.

Initially, the CBN reduced the weekly over-the-counter cash withdrawal limit for individuals to N100,000 and that of corporate organisations to N500,000.

It also reduced withdrawals at Automated Teller Machines and point-of-sale terminals to N20,000 daily.

 

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