The House of Representatives requested the Governor, Mr. Godwin Emefiele, to suspend the policy’s implementation at Thursday’s plenary because they were dissatisfied with the CBN’s recent N100,000 weekly cash withdrawal limits and the associated economic and social challenges.

According to VANGUARD, Emefiele was requested to appear before the House on Thursday of next week to discuss the significance and impact of the new policy.

The suspension will last until the expected engagement with the House on compliance with CBN act and 1999 constitution sections pertaining to the apex bank’s monetary policies is completed.

The resolution was a follow-up to a motion by Hon. Magaji Aliyu Dau

With the exception of the minority leader, Hon. Ndudi Elumelu, along with many other lawmakers who spoke, vehemently opposed the CBN’s decision, despite his support for the policy because it will reduce banditry and corruption.

After the Wednesday meeting, the opposition may eventually indicate a House directive to abandon the policy through a resolution.