Home News Limit on cash withdrawals: Ohanaeze youths support CBN

Limit on cash withdrawals: Ohanaeze youths support CBN


Ohanaeze Ndigbo Youth Council Worldwide, the premier Igbo sociocultural group, has backed the Central Bank of Nigeria’s (CBN) new monetary regulations.

A few cash withdrawal limit measures that the CBN had recently introduced drew varied reactions from Nigerians.

The National President of Ohanaeze Ndigbo Youth Council Worldwide, Mazi Okwu Nnabuike, claimed in a statement on Saturday that the youths were in favor of the apex bank.

Okwu claimed that corruption was retaliating after criticizing National Assembly lawmakers for opposing the scheme.

He declared that Nigerians should support any action aimed at keeping the Naira stable at a time when the economy is in freefall. The cash withdrawal cap is a practical piece of monetary legislation.

“We, the Igbo youth, wholeheartedly support the program because it would help battle the corruption that has been entrenched in Nigeria’s political system.

“There is no doubt in our minds that it will contribute to the stabilization of the currency rate and the decline in inflation.

Additionally, it is a poor market for all vote purchasers. All the people who have money stored away hoping to buy votes must now be living in remorse as Nigerians get ready for the election in 2023.

While acknowledging further substantial advantages “that would assist safeguard the future of our children and our youths,” Okwu encouraged the National Assembly to stop opposing the policies further.

He predicted that in the long run, the whole public will prosper.

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