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HomeBusiness“Dead on arrival,” Nigerians react to new CBN policy on withdrawal limits

“Dead on arrival,” Nigerians react to new CBN policy on withdrawal limits

Social media was agog on Tuesday evening after new CBN policy on withdrawal limits surfaced through the media.

The CBN had set 100k as weekly limit for individuals in a new policy update to help the apex bank better control money in circulation.

Some Nigerians have criticized the development, frowning that the new policy comes as a censorship on people’s spending habits.

Below are some of the reactions:

Rasaque Osuolalekan: This policy can not work ooo!!!It is not good for the economy. Infact,it is dead on arrival.Govt better find better Managers for both fiscal and monetary policy stakeholders in the country if this is the best they can offer

Let the govt deal with the issue of banditry and kidnapping decisively without impinging negatively on the economic live of the people.

Ayodeji Oyerinde: This is pure thinking upside down…!
So, if I have N10 million in my account and I have an emergency, whereby I need N2 million, it means I’ll wait for 20 weeks to withdraw the money.

This cannot stand, it’s a failed policy on arrival, because presently, nothing is working in the country!!!

Olusegun Jimoh: I tire oh!
What happens, in the situation where someone wants to pay for his children’s school fees like #300,000 and above, so, one should wait for 3 weeks and above before he/she can settle that..
Negative policy indeed!

Simeon Teniola: Ayodeji Oyerinde I swear man, our CBN director no get sense, who dey give them all this stupid policy?

Dan Uriri: I’m embarrassed that people still think like this… Why can’t you transfer.. Can you carry 2 million naira in the uk without been questioned and asked questions before the cash is giving to u in the bank.. @ Brother Ayo u putting on suit and tie still u still saying this 😂

Great Bobby: Some Nigerians who love to carry excess cash in their hands and oppress other Nigerians will frown at this development



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