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2023: PDP Reacts As CBN Restricts Cash Withdrawals To N100,000 Per Week

The Peoples Democratic Party (PDP) Presidential Campaign Organisation has reacted to the new Central Bank of Nigeria (CBN) policy on daily and weekly cash withdrawals.

Naija News reported that the CBN had revealed the plan to limit over-the-counter cash withdrawals by individuals and corporate entities to N100,000 and N500,000 per week, respectively.

In the circular issued on Tuesday, the apex bank stated that the new policy will take effect nationwide on January 9, 2023.

The CBN stated that when the policy is implemented all cash withdrawals in excess of the above-mentioned restrictions will be subject to processing costs of 5 and 10 percent, respectively.

Reacting in a chat with Vanguard, the Spokesperson of the PDP campaign organisation, Kola Ologbondiyan, said the party is still reviewing the new CBN policy.

He, however, said the PDP and its Presidential candidate, Atiku Abubakar, have a reputation for being sticklers for the rule of law and policy.

The former PDP spokesman asserted that the party’s economic experts were still consulting in order to prepare an appropriate response.

He, however, said the party and its flagbearer are committed to rescuing Nigeria from the maladministration and the lawlessness which the All Progressives Congress-led administration has unleashed on the country since 2015.

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