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Moved by hardship Nigerians in the rural areas are likely to face over Central Bank of Nigeria Cash limitation policy, the Eze Ndigbo Mekong River ( King of six nations), HRH Eze Jerome Uzochukwu Ezeneche ( Eze Nwatagwuosimiri) has urged the Federal Government to suspend the policy in the interest of the masses.
According to the new policy as released by the CBN, with effect from 9th of January 2023, individual will only be able to withdraw 20,000 Naira a day or 100,000 Naira per week.
In a statement made available to the media, HRH Ezeneche said with majority of Nigerians being artisans and traders, the cash limitation policy of the CBN would ruin their investments.”
In Thailand here where I reside, their is cashless policy and no limitations on the amount you can withdraw to do your business. You can also use credit card. But in Nigeria, credit card doesn’t work at all. I have used my credit card in Ghana and some other west African countries. It is only in Nigeria here that the service is not effective.I am appealing to the federal government to consider our aged parents in the village who may not have access to smart phones, who may not know how to use bank apps to do their transactions ”
On the way forward, HRH Ezeneche a Foreign Exchange expert invites the CBN governor to Bangkok Thailand so that he can see how modern economy operates.
