The House of Representatives has criticised the Central Bank of Nigeria’s new policy, which limits cash withdrawals from Deposit Money Banks and other financial institutions, among other things.
As a result, the House summoned CBN Governor Godwin Emefiele to come and explain the policy to the legislature.
He is to appear before the lawmakers on Thursday.
This is based on a motion of urgent public importance introduced by Aliyu Magaji, a member of the House, during the plenary on Thursday.
Several lawmakers warned that the policy would have serious consequences and adverse effects on businesses and Nigerians who have no access to the banking system.
The Minority Leader, Ndudi Elumelu, however, said the policy would check crimes as funds would now be tracked through the banking system. He said though the timing might be wrong, the country would benefit more from it.