The House of Representatives has criticised the new policy introduced by the Central Bank of Nigeria which, among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.
At the plenary, a lawmaker, Mr Aliyu Magaji, who moved a motion of urgent public importance, warned that the new policy could spell doom for the economy as several people would lose their jobs, while traders, artisans and rural dwellers would suffer because of the cash limits.
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.
