Speaker of the House of Representatives, Femi Gbajabiamila

Cash limit: Impeach Gbajabiamila, youths group tell Reps

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Youths from the South-West under the aegis of the Oduduwa Youths Forum on Friday slammed members of House of Representatives for moving against the new cash withdrawal limits recently introduced by the Central Bank of Nigeria.

They also disowned the Speaker of the House of Representatives, Femi Gbajabiamila, saying he should be impeached.

The apex bank had, in a memo, by the Director (Banking Supervision), Haruna Mustafa, restricted over-the-counter cash withdrawals by individuals and organisations to N100,000 and N500,000, respectively, per week.

The CBN also limited cash withdrawals through point-of-sale machines and automated teller machines to N20,000 daily and N100,000 weekly, respectively.

The House of Representatives had during plenary on Thursday ordered the Governor of CBN, Godwin Emefiele, to suspend the implementation of the policy.

But the leader of OYF, Ade Balogun, described the resolution of the House of Representatives as baseless and illegal.

He also described it as a personal interest-driven agenda that should not be done by the CBN.

Balogun also berated Gbajabiamila, for rejecting a policy initiated by the President, Major General Muhammadu Buhari (retd.), who is also of the ruling All Progressives Congress.

He said, “As youths from the South West, we are disowning Gbajabiamila, over the unpopular resolution of the House of Representatives on the new cash limit under his leadership.

“The resolution is not only baseless but also illegal. Let Gbajabiamila and his allies in this infamous journey know that their resolution against the cash withdrawal limit is an act of legislative rascality that can not stand.

“We urge loyalists of President Muhammadu Buhari in the House of Representatives not to waste time in moving against Gbajabiamila.


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