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From Adanna Nnamani, Abuja
Conference of Nigeria Political Parties (CNPP) and the Coalition of National Civil Society Organisations (CNCSO) have condemned the directive by the House of Representatives asking the Central Bank of Nigeria (CBN) to suspend its cashless policy, tagging it an economic sabotage.
The groups claimed that the lawmakers lacked good intentions for the country as well as knowledge of the policy’s objectives and numerous advantages it heralds for the country’s economy.
They also accused politicians who were against the policy of being driven by the motive to manipulate and rig the 2023 general elections using money they have stacked away.
The organisations spoke at a press conference addressed by CONCSOs National Covener, Chief Willy Ezugwu in Abuja, yesterday.
Ezugwu said despite efforts of the management of the CBN, led by Godwin Emefiele, who secured the approval of President Muhammadu Buhari for the redesign of Nigeria’s banknotes, many citizens, especially politicians, have continued to criticise the cash-less policy implementation.
“As we mentioned earlier, some have argued that the weekly cash withdrawal limit set by the CBN has attendant economic and social challenges. The height of the display of their ignorance of the progressive implementation of Nigeria’s cash-less policy which took effect in 2012 was the resolution by the House of Representatives last Thursday asking the CBN Governor, Mr. Godwin Emefiele to suspend implementation of the cash withdrawal policy.
“The House of Reps also demanded that Emefiele appear before the lower chamber of the National to explain to the House on the impact and significance of the new policy. To show that the lawmakers did not mean well, why call for a suspension of a policy that has not taken effect? The new withdrawal policy is the take effect in February 2023. So, inviting the CBN governor for explanation would have been the most appropriate step, not to order a suspension of a policy that is yet to take effect. This is an economic sabotage and we enjoin security agencies to treat this matter with all seriousness as the National Assembly, the pronouncement, is clearly threat to Nigeria’s economic growth.”
