Nigerian News

Masari speaks on position of Governors on CBN cash withdrawal limit

The Evangelist
December 11, 2022

Governor Aminu Masari of Katsina State has said that majority of State Governors are in support of the new policy on cash withdrawal limit introduced by the Central Bank of Nigeria.
Governor Masari said on Saturday that the policy was good and will bolster the development of the nation’s economy.

He stated this while speaking with journalists after a meeting with President Muhammadu Buhari in his hometown in Daura, Katsina State.

He said: “What is wrong with it except one who stockpiles millions in his house and is afraid to bring it?

“It will help the economy.

“Now, all the money has not been in the banking sector.

“The Central Bank Governor said that they have mopped over N1 trillion into the banking sector, which was stashed in soak aways and other places.

“We believe by the end of the transition to the new currency, the remaining trillion will be back in the banking sector.

“I think it is very good for the economy.”

Asked if the governors were happy with the cash withdrawal limit, Masari said: “Because I am….”

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