Reps ask CBN to suspend new charges on transactions, give reasons

The House of Representatives on Thursday directed the Central Bank of Nigeria to suspend the new charges placed on Nigerians under its new cashless policy, with immediate effect.

CBN had announced an increase in charges on withdrawals and deposits exceeding N500,000, however, in a plenary session, the Lower House ordered the apex bank to suspend the policy until appropriate consultations have been concluded.

This was affirmed via a series of tweets on the official Twitter handle of the House of Representatives.