The House of Representatives yesterday at its plenary session rejected the proposal by the Central Bank of Nigeria, CBN, to peg deposit and withdrawal of money by bank customers at N150,000 and N500,000 for individuals and corporate bodies respectively.

Accordingly, the House mandated the Federal government to ask CBN Governor, Mallam Sanusi Lamido to suspend further steps towards the implementation of the policy.

In their debate, most of the law-makers argued strongly that Nigeria was not ready for such policy because adequate enlightenment programme had not been carried out by the nation’s apex bank to educate the populace on its implications for economic development.

The objection to the policy was the outcome of the motion moved by Hon Jumoke Thomas-Okoya condemning the apex decision on the matter, stressing that the Nigerian economy is not ripe for such policy,

http://ngjobsncareers.com/2011/05/house-of-reps-oppose-new-cbn-cash-transaction-rule.html

mrinfo:

The House of Representatives yesterday at its plenary session rejected the proposal by the Central Bank of Nigeria, CBN, to peg deposit and withdrawal of money by bank customers at N150,000 and N500,000 for individuals and corporate bodies respectively.

Accordingly, the House mandated the Federal government to ask CBN Governor, Mallam Sanusi Lamido to suspend further steps towards the implementation of the policy.

In their debate, most of the law-makers argued strongly that Nigeria was not ready for such policy .because adequate enlightenment programme [b]had not [/b]been carried out by the nation’s apex bank to educate the populace on its implications for economic development

The objection to the policy was the outcome of the motion moved by Hon Jumoke Thomas-Okoya condemning the apex decision on the matter, stressing that the Nigerian economy is not ripe for such policy,

http://ngjobsncareers.com/2011/05/house-of-reps-oppose-new-cbn-cash-transaction-rule.html

deadline of June 2012!!!

a year from now