Weekly Recap: Between The CBN And The House
This week started with celebrations as Argentina won the World Cup. In reality, it really was a Messi celebration. Perhaps, many will conclude that the age-old debate about who the GOAT is between the Argentine star and his rival Cristiano Ronaldo, has finally come to an end. But let’s talk money for a second… The […]
This week started with celebrations as Argentina won the World Cup. In reality, it really was a Messi celebration.
Perhaps, many will conclude that the age-old debate about who the GOAT is between the Argentine star and his rival Cristiano Ronaldo, has finally come to an end.
But let’s talk money for a second… The CBN raised the withdrawal limit to N500,000 for individuals and N5million for business this week.
The Apex bank has claimed that both the naira redesign and the limit on cash withdrawals were parts of its plans to make Nigeria cashless.
The Reps had kicked against the policy but decided to give the CBN a chance to explain it better.
The CBN governor however, decided to go on vacation… I mean health- cation instead.
After ‘dribbling’ the Reps, the Deputy Governor on financial stability systems, Aisha Adamu, finally represented him and appeared before the house.
And here’s where it gets interesting… When asked about the reason behind the seemingly sudden rush to implement withdrawal limits and new naira use, she insists it isn’t politically motivated.
When asked how much of the new naira is in circulation, she insists she doesn’t know but later says the CBN ordered the printing of 500 million new naira.
While the Reps still seem unsatisfied, Emeifile remains in London and many Nigerians are yet to see this new naira.
Meanwhile, Nigerian troops have been busy. They reportedly killed scores of IPOB militants in Enugu, Ebonyi, while the airforce killed many more terrorists in Zamfara.
Unfortunately, there were civilian casualties in Zamfara as many were used as human shields.
On a light mode, Christmas is approaching! Monday and Tuesday, the 26th and 27th of December have been declared as national holidays.
Now is the time for our Christian friends and loved ones to invest in the sallah meat they wish to receive. A wise person once said, “Sallah meat should only be expected by those who provide Christmas food.”
Stay safe, and happy holidays!