Governors Back CBN’s Cash Withdrawal Limit – Masari

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Governors Back CBN’s Cash Withdrawal Limit – Masari

Regardless of widespread criticisms against limitations placed on cash withdrawals by the Central Bank of Nigeria (CBN) in its cashless policy, the Governor of Katsina State, Bello Masari, has said all the governors were in support of the policy.

Masari said this Saturday in a chat with newsmen after a meeting with President Muhammadu Buhari at his Daura country home.

According to him, the policy would bolster the nation’s economy.

On why the governors have not said anything about the policy, he said: “What is wrong with it except one who stockpiles millions in his house and is afraid to bring it out.

“It will help the economy. Now, all the money has not been in the banking sector. The Central Bank Governor said that they have mopped over N1 trillion into the banking sector which was stashed in soak-ways and other places.

“We believe by the end of the transition to the new currency, the remaining trillions will be back in the banking sector. I think it is very good for the economy.”