• About
  • Advertise
  • Contact
Thursday, October 23, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Senate Calls For Review Of New Cashless Policy

Vital News by Vital News
December 14, 2022
in Economy
0
Cashless Policy Has Come To Stay – CBN Governor Emefiele
Share on FacebookShare on Twitter

Abuja – The Senate on Wednesday at plenary urged the Central Bank of Nigeria (CBN) to considerably adjust withdrawal limits in response to public outcry on its proposed weekly withdrawal on cashless policy.

Senate’s resolution followed the adoption of recommendations of the Committee on Banking, Insurance and other Financial Matters on the recent policy of CBN on cash withdrawal limits.

Senate also urged its committee to continue to embark on aggressive oversight of the CBN on its commitment to flexible adjustment of the withdrawal limit and periodically report the outcome to plenary.

It also resolved to support the CBN in the continuous implementation of transformational payments and financial industry initiatives in line with its mandate in accordance with the CBN Act.

Earlier, Chairman of the Committee, Sen. Uba Sani (APC-Kaduna) while presenting the report of the committee said that there are many misconceptions about the cashless policy.

RelatedStories

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

Nigeria’s Inflation Drops To 18.02pct

He said that the currency denominations of N5, N10, N50 and N100 remain legal tender and were unaffected by the naira redesign policy and were available for use across the country.

According to him, there are currently no processing fees applied to cash deposits, saying that unlimited amounts can be deposited without charge to enable seamless and unrestricted deposit of notes affected by currency redesign.

Sani said there have been significant achievements recorded in the Nigerian payment system since the cashless policy was introduced in 2012.

However, some senators, before the adoption of the recommendations of the report raised concerns over the planned implementation of CBN’s cash withdrawals limit, while some supported its implementation, saying that it was for the ultimate good of the country.

The Senate also at plenary confirmed President Muhammadu Buhari’s nomination of Mrs Aisha Ahmad and Mr Edward Adamu for appointments as Deputy Governors of CBN.
(NAN/vitalnewsngr.com)

Tags: cashlessCBNpolicyreview
Previous Post

Buhari Restates Nigeria’s Target Of 30gigawatts Of Electricity By 2030 At US Summit

Next Post

Red Cross Flags Off Distribution Of N50 mln Relief Items To Flood Victims In Kogi

Vital News

Vital News

RelatedStories

‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Nigeria’s Inflation Drops To 18.02pct

October 15, 2025
PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence
Economy

PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence

October 14, 2025
Next Post
Red Cross Flags Off Distribution Of N50 mln Relief Items To Flood Victims In Kogi

Red Cross Flags Off Distribution Of N50 mln Relief Items To Flood Victims In Kogi

Kogi Kicks As EFCC Arraigns Governor Bello’s Nephew, Others For N10bln Fraud

Kogi Kicks As EFCC Arraigns Governor Bello’s Nephew, Others For N10bln Fraud

EFCC Secures Final Forfeiture Of N775mln, Properties Linked To Otunla,  Ex-AGF

EFCC Recovers N134.3bln, $121mln In10 Months – Bawa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Tinubu Reverses NTA Appointments, Reinstates Dembos As DG NTA

Tinubu Reverses NTA Appointments, Reinstates Dembos As DG NTA

2 months ago

One Month After, Bandits Release I6 Kaduna Christian Worshippers

2 years ago

Dino Melaye Demands Apology From Peter Obi, Says His outburst Unpresidential

3 years ago
FEMI FANI KAYODE AS THE BRAND IMAGE AND POSTER BOY OF APC – Dino Melaye

Guber Poll : Kogi State Central, West Forums Endorse Melaye as Consensus Candidate

2 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

Trailer Crushes Female University Lecturer To Death In Lokoja

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

National Orthopedic Hospital Jalingo Signs MoU With Police Health Maintenance Limited

Former Kogi Senator In Trouble Over Attempts To Scuttle Appointment Of Amupitan As INEC Chairman, Action Raises Dust Among Kinsmen

Trending

Professor Amupitan Resumes Office As New INEC Chairman
News

Professor Amupitan Resumes Office As New INEC Chairman

by Vital News
October 23, 2025
0

Professor Joash Amupitan on Thursday resumed office as the new Chairman of the Independent National Electoral Commission...

Dangote Denies Ownership Of Truck Involved In Enugu Accident

Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident

October 23, 2025
Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

October 23, 2025
Trailer Crushes Female University Lecturer To Death In Lokoja

Trailer Crushes Female University Lecturer To Death In Lokoja

October 23, 2025
Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

October 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Professor Amupitan Resumes Office As New INEC Chairman October 23, 2025
  • Dangote Group Denies Ownership Of Truck In Akungba-Akoko Accident October 23, 2025
  • Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman October 23, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In