Withdrawal Limit: No Nigerian Needs More Than N100K Cash Weekly — Reno Omokri

Reno Omokri, a former presidential aide, has defended the Central Bank of Nigeria’s recently enacted cash withdrawal cap.

Remember that the CBN recently set a weekly cap of N100,000 and N500,000 on the amount of cash that can be withdrawn over-the-counter (OTC) by individuals and corporate organizations, respectively.

No Nigerian needs more than N100,000 in cash per week, Omokri said in response to criticisms that have followed the policy.

Other than paying for transportation or making grocery purchases, he continued, everything can be done without using cash.

In his words:

There is no Nigerian that needs more than N100k cash weekly. Other than paying bus conductor or buying groceries, everything can be done cashless. It is kidnappers, bandits and sexual bandits (urgent 2k girls) who are fighting this policy using political godfathers

Withdrawal limit

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