CBN’s cash withdrawal policy will affect corrupt politicians—Sanusi


By Aminu Kutama

The 14th Emir of Kano, Muhammad Sanusi II, has said that the decision taken by the Central Bank of Nigeria (CBN) to limit cash withdrawal in the country will have more impact on the country’s political class than the ordinary people.

Sanusi, who stated this at the end of his Madarijus Salikin weekly lecture this weekend, added that the country’s politicians use money during elections to buy people’s votes, a situation that causes setbacks for the country.

“It is unfortunate that people will spend four years taking the wealth of the community, leaving people in poverty and hunger, and then come out with the money to buy votes and pay the police, the DSS, the INEC staff, and empower thugs, by buying them drugs and weapons to prevent people from voting,” he lamented.

Also, the former Central Bank governor said that the withdrawal limit plan brought by the CBN will reduce the damage done by politicians and will limit election fraud.

According to him, the decision of the CBN is a process that was started in Nigeria 10 years ago when he was governor of the country’s Central Bank .

“The world is changing, we want the financial access by Nigerians to be easy, and to reduce theft, people initially started making noise saying they don’t want it, but now they are beginning to understand its benefits,” he added.

The withdrawal restriction law issued by the Central Bank of Nigeria (CBN) on the 6th of December 2022 will come into force on the 9th of January 2023.

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