Ondo State Governor, Rotimi Akeredou, has towed the steps of his counterparts in Kaduna, Zamfara and Kogi states, by dragging the Federal Government to the Supreme Court over the daily cash withdrawals limit policy introduced by the Central Bank of Nigeria (CBN).
Akeredou filed the suit on Thursday through an originating summon filed by the State Commissioner for Justice and Attorney-General, Charles Titiloye.
In the originating summons, the suit said the “limitation of daily cash withdrawal at banks since the introduction of the newly redesigned naira has generated tension nationwide owing to the scarcity of the new notes.
The governor urged the apex court to declare that the Federal Government cannot, by a directive issued through the CBN, “amend or vary an existing act of the National Assembly, particularly section 2 of the Money Laundering Act, which relates specifically to limitations on cash withdrawals for individuals and corporate organizations to N5 million and N10 million, respectively.
