Adamu Bulkachuwa, the senatorial district representative for Bauchi North, believes that the cash withdrawal limitations imposed by the Central Bank of Nigeria may have a big impact on the 2023 general elections.
In addition to other Nigerians, Senator Aliyu Magatakarda Wamakko of Sokoto State has criticized CBN Governor Godwin Emefiele over the redesign of the Naira notes and the CBN’ s new, contentious cash withdrawal restriction. See details of this and more below!
SEE Why Nigerian Senator Says New CBN Withdrawal Policy Will Greatly Affect 2023 Election
The 2023 general elections may be significantly impacted by the cash withdrawal restrictions set by the Central Bank of Nigeria, according to Adamu Bulkachuwa, the senatorial district representative for Bauchi North.
When speaking on the Sunday Politics program of Channels Television, Bulkachuwa shared this worry.
Recall that, in early December, the CBN set a daily limit of N20, 000 for withdrawals from ATMs and Point of Sale (PoS) terminals in response to the introduction of the new N200, N500, and N1, 000 notes.
A further requirement of the policy required banks to make sure that monthly over- the- counter (OTC) cash withdrawals by both individuals and business entities did not exceed N100, 000 and N500, 000, respectively. Bulkachuwa, however, has questioned the policies of the top bank and claimed it is political.
