Lawmakers Ask CBN To Halt New Charges On Bank Transaction

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The House of Representatives on Thursday directed the Central Bank of Nigeria to suspend the new charges placed on Nigerians under its new cashless policy, with immediate effect. 

The lawmakers took the resolution after adopting a motion brought under matters of urgent national importance by its spokesperson, Benjamin Kalu.

The apex bank had announced an increase in charges on withdrawals and deposits exceeding N500,000.

However, in a plenary session, the Lower House ordered the apex bank to suspend the policy until appropriate consultations have been concluded.

A tweet on the official Twitter handle of the House of Representatives reads, “The @HouseNGR has urged the Central Bank of Nigeria to suspend its recent directive to banks on cashless policy, which seeks to have individuals and corporate organisations charged for deposits and withdrawals respectively.

“The suspension is until appropriate and comprehensive consultations are made and the outcome of the interface of the House on the matter is concluded.”

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