The House of Representatives has asked the Central Bank of Nigeria to suspend the proposed bank charges under its new cashless policy.
The Central Bank had announced it’s intention of placing new charges on every withdrawal and deposit from N500,000 and above.
However, during plenary on Thursday, the lower legislative chamber ordered the apex bank to suspend the policy pending when appropriate consultations are made.
A tweet on the official Twitter handle of the House of Representatives reads, “The @HouseNGR has urged the Central Bank of Nigeria to suspend its recent directive to banks on cashless policy, which seeks to have individuals and corporate organisations charged for deposits and withdrawals respectively.
“The suspension is until appropriate and comprehensive consultations are made and the outcome of the interface of the House on the matter is concluded.”
