NAIRA REDESIGN POLICY : REVISED CASH WITHDRAWAL LIMITS
A PLOT TO KILL SMALL AND MEDIUM SCALE BUSINESSES, EXPANDS UNEMPLOYMENT, AGGREVATES INSECURITY AND POVERTY BY EMEFIELE LED CBN.
The News of revised cash withdrawal limits by Nigeria apex Bank, the Central Bank of Nigeria CBN under the leadership of Gov Godwin EMEFIELE is not only shocking but symbolize the height of insensitivity and cluelessness of the CBN under EMEFIELE.
A Nation with highest unemployment rate, ranked poverty Headquarters of the world with unprecedented insecurity situation at hand is pronouncing a policy that automatically kills small and medium scale business in typical remote area where major farming and food production is conducted, terminates common menial job of POS operators that is sustaining millions of youths among other negative effect of the new policy.
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| Comr. S A Lukman |
A Nation where its obvious factor that the internet infrastructure have not circulate across the country which was among the consideration during electoral act amendment while debating on transmission mode of result using data networks or radio wave signal took the center of the table before resolution.
Its indeed a clueless reign of Gov Godwin EMEFIELE at Central Bank of Nigeria. Small and medium scale businesses that trades with cash at remote area from farms to markets where calling network does exit talk less of data networks will automatically be affected, millions of youth will become jobless in coming days as limitation of POS maximum withdrawal to 20,000 per day will make the business unattractive hence more idle hands become available for devlish act of insecurity.
The moment small trading is made impossible owing to enforcement of cashless policy even at informal sector in remote area, poverty aggregation becomes inevitable.
CBN and EMEFIELE must either reconsider their position by revisiting the new policy or expect Nigerians reaction in coming days.
Signed
Comr S A Lukman #AiG
Executive Director
Good Governance Initiative on Extractive Industries Development G-Giend /
Spokes Person
Nigeria Citizen Action Groups NCAG
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