Group demands Gbajabiamila’s impeachment for opposing CBN’s cash withdrawal limits

Youths from the South-West region under the aegis of the Oduduwa Youths Forum (OYF) on Friday berated the House of Representatives over its opposition to cash withdrawal limits introduced by the Central Bank of Nigeria (CBN).

The apex bank on Tuesday announced a cash withdrawal limit of N100,000 and a 5 percent processing fee over the counter for individuals, and N500,000 for corporate organizations.

The CBN also pegged the daily withdrawal from Automated Teller Machines (ATMs) at N20,000.

The House of Representatives, on Thursday, directed the CBN Governor, Godwin Emefiele, to suspend the implementation of the policy.

READ ALSO: Naira crashes as CBN introduces new withdrawal limits

However, in a statement signed by the leader of OYF, Ade Balogun, the group described the House position as illegal and baseless.

The statement read: “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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