Cash limit: Youth group tells Reps to impeach Gbajabiamila
On Friday, youths from the South-West, acting under the auspices of the Oduduwa Youths Forum, criticized House of Representatives members for opposing the new cash withdrawal restrictions that the Central Bank of Nigeria just implemented.
They also said Femi Gbajabiamila, the Speaker of the House of Representatives, should be impeached.
The apex bank had limited over-the-counter cash withdrawals by individuals and organizations to N100,000 and N500,000, respectively, every week, in a memo signed by the Director (Banking Supervision), Haruna Mustafa.
The CBN also set daily and weekly limits on the amount of cash that could be withdrawn from automated teller machines and point-of-sale machines.
On Thursday in plenary, the House of Representatives gave the CBN Governor, Godwin Emefiele, the order to halt the implementation of the policy.
Ade Balogun, the OYF leader, however, criticized the House of Representatives’ resolution as being unfounded and unlawful.
He added that it was a self-serving goal that shouldn’t be carried out by the CBN.
Also a member of the ruling All Progressives Congress, Major General Muhammadu Buhari (ret.) is the President. Balogun chastised Gbajabiamila for opposing a policy that Buhari had initiated.
“As South Western youth, we are disowning Gbajabiamila over the unpopular House of Representatives resolution on the new cash limit under his leadership,” he declared.
“The resolution is unlawful in addition to being without merit. Inform Gbajabiamila and his allies that their resolution opposing the cash withdrawal restriction is a rascally piece of legislation that cannot stand.
“We urge President Muhammadu Buhari’s supporters in the House of Representatives to avoid wasting time.”