The Nigerian Investment Promotion Commission has commended the recent policy of the Central Bank of Nigeria which limits daily cash withdrawals to N20, 000 and weekly withdrawals to N100,000 for individuals.
The policy, which is scheduled to be implemented on January 9, has received backlash from citizens, economists, lawmakers and politicians.
In an interview with the Chief Executive Officer, NIPC, Saratu Umar said the new policy of the CBN would ensure adequate and smooth circulation of money in the banking sector and the nation’s economy.