Withdrawal Limit: PDP, SDP, ADC Others Drag Emefiele, Reveal Secret Plot of CBN
- The Central Bank of Nigeria and its leadership are at the centre of a serious backlash following the implementation of its latest policy
- Political parties became the latest entities to lash out at the CBN for its decision to reduce the withdrawal limit in banks, ATMs and POS stands
- The Peoples Democratic Party (PDP), the Africa Democratic Congress (ADC), and Social Democratic Party (SDP) also lashed out at the CBN
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The Peoples Democratic Party (PDP) and other political parties have condemned the new policy of withdrawal limits introduced by the Central Bank of Nigeria (CBN).
Reacting to this latest development, the director of strategic communication of the presidential campaign council of the PDP, Chief Dele Momodu said the new policy will cripple political campaigns.
Source: Facebook
As reported by the Punch newspaper, Momodu in his words said:
“if enforced, the policy will strangulate the political process, not the PDP alone.”
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He stated that access to funding during the election circle is very important while making reference to the 2015 election when the then-opposition party, the All Progressive Congress (APC).
He said:
“In 2014/2015, I am sure if (President) Buhari had no access to funding, he would never have been the President of Nigeria. There are people who are making contributions to the political parties and some parties have set up structures to receive support from people. How then will they be able to access the fund if they are saying you cannot withdraw more than N100, 000 a week?’’
ADC, SDP, ADP reacts
Elsewhere, Chief Ralp Nwosu, the national chairman of the Africa Democratic Congress (ADC), said the CBN's decision to introduce the new policy was politically motivated.
He said:
‘’How do you expect the ADC candidate to have the cash to do the things he wants to do and how do you think that this is the best time for such an undertaking?
‘’We have almost 200,000 agents that we must pay and 80 percent of them live in rural areas. Is it that N2,000 or N5,000 that you pay them that you would transfer to each of them? How many of them have such a facility? So it’s completely inconsiderate of them.”
On the part of the Social Democratic Party (SDP) said the decision was ill-timed and totally unnecessary as it will affect the general elections seriously.
Alpha Muhammed, the factional national publicity secretary of the SDP, said:
"You cannot overnight bring a policy that will seriously affect a project as big as the general elections.
"Definitely, cash has to move, people have to pay for logistics; you have to give cash to agents, you have to give cash to those who will transport people to rallies. It will definitely affect the success of the election and the campaign itself.’’
Sani Yabagi, the national chairman and presidential candidate of the African Democratic Party (ADP) said the move might be genuine but does not change the fact that it will affect the elections, especially in terms of logistics.
Similarly, Chief Dan Nwayanwu, the national chairman of the Zenith Labour Party (ZLP) said the people in rural communities will be seriously affected.
He, however, said:
“As far as the parties are concerned, we are okay. Let those who stashed billions of naira in tanks bring them out. They should have the courage to bring them out. It is good to note that over N500bn have been returned in the past two weeks. Maybe before the elections, trillions will be returned to the banks.’’
Peter Obi's Labour Party welcomes CBN's latest policy as APC keeps mute
Surprisingly, the Labour Party held a different opinion stating that the party is pleased with the new CBN policy.
Yunusa Tanko, spokesperson of the Obi/Datti presidential campaign council said since the commencement of the new policy, the Naira has been appreciated and that the party will not support any waiver option for political parties.
Meanwhile, the spokesman of the Tinubu-Shettima presidential campaign council, Festus Keyamo, revealed that there has been no resolution or conversation about the new policy with the ruling All Progressive Congress.
Keyamo said:
“For now, I decline to give any comment on that. We have not met formally to take a position on the issue.”
Emefiele states why Naira is falling, says national card to commence January
Meanwhile, the Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has said the number of Nigerians seeking foreign education is to blame for the fall of the naira.
He said there has been be a tremendous increase in visa issuances to Nigerians by the UK in 2022 alone.
Emefiele stated that the move has immensely put pressure on Nigeria’s foreign reserves and the naira.
Source: Legit.ng
