Masari Backs CBN’s Cash Withdrawal Policy

Katsina State governor, Aminu Bello Masari has thrown his weight behind the new cash withdrawal policy introduced by the Central Bank of Nigeria (CBN), adding that it will help the country’s economy.

Masari spoke to journalists after a meeting with President Muhammadu Buhari in his hometown in Daura, on Saturday.

The new policy limits weekly over-the-counter cash withdrawals by individuals and corporate entities to N100,000 and N500, 000, respectively.

Masari has expressed support for the CBN policy.

“What is wrong with it except one who stockpiles millions in his house and is afraid to bring it,” he said.

“It will help the economy. Now, all the money has not been in the banking sector. The central bank governor said that they have mopped over N1 trillion into the banking sector which was stashed in soakaways and other places.

“We believe by the end of the transition to the new currency, the remaining trillion will be back in the banking sector. I think it is very good for the economy.”