Nigerians are urged by CNPP to stop criticizing the CBN’s cash policy.
The Conference of Nigerian Political Parties (CNPP) has criticized those who have criticized the Central Bank of Nigeria’s (CBN) new cash withdrawal limitations while applauding the bank for the benefits the policy is expected to bring, particularly in the run-up to the general elections in 2023.
The CNPP noted that “Nigerians are suffering” as a result of poor administration in a statement by its Secretary General, Chief Willy Ezugwu, and that making all sacrifices necessary to elect the best leaders starting in 2023 would be worthwhile.
“Nigeria’s broken election systems throughout the years, which hurled terrible and corrupt politicians on the populace, are to blame for lousy governance. This developed as a consequence of heavily funded election systems. Any procedure that reduces the influence of moneybags and dishonest politicians in Nigerian politics is worthwhile, notwithstanding the sacrifices made by the common people, who suffer the most from poor government.
He advised government to make sure that no politician or other person in a position of authority forces banks to ignore the cash withdrawal policy, rather than criticizing the CBN for the new cash withdrawal limitations.
A coalition of young organizations in the North has, in the meanwhile, expressed concern about the fact that certain politicians have decided to attack the program.
Arewa Youth Consultative Movement (AYCM) and Middle Belt Youth Forum (MBYF), after their meeting in Abuja yesterday, expressed confidence in the new monetary policy.
Godwin Meliga, the organizations’ convener, said that the strategy dealt vote-buyers, money-launderers, and financial crooks a fatal blow.
He urged Nigerians to accept the program, claiming that it is in the national interest and does not target any one group inside the nation.
The Federal Government would be able to better monitor and regulate the economy, inflation, and other issues thanks to this strategy, which will return control of the money in circulation to the CBN, according to Meliga.
The National Assembly was urged to reject any scheme to use it to undermine the policy.
Meliga said that the organizations had knowledge of corrupt politicians’ attempts to infiltrate several institutions, most notably the House of Representatives, and persuade its members to reject the strategy.
He said that since Nigerians often questioned the timing of every policy, now was the ideal moment to implement the program.
The CBN ordered all Deposit Money Banks (DMBs) to allow a daily or weekly cap of N20,000 or N100,000 for cash withdrawals from point-of-sale (POS), ATM, and automated teller machine (ATM) machines by people on Tuesday. Weekly cap is N500,000 for corporate organizations.
