Falana Faults CBN New Cash Withdrawal Policy, Says ‘Illegal, Null and Void’ Human rights lawyer Femi Falana has faulted the Central Bank of Nigeria’s CBN new cash withdrawal limit, describing it as “illegal, null and void. Falana called the central bank’s recent action “embarrassing” and in violation of the country’s laws. He said since the
Falana Faults CBN New Cash Withdrawal Policy, Says ‘Illegal, Null and Void’
Human rights lawyer Femi Falana has faulted the Central Bank of Nigeria’s CBN new cash withdrawal limit, describing it as “illegal, null and void.
Falana called the central bank’s recent action “embarrassing” and in violation of the country’s laws.
He said since the Money Laundering Act 2022 which set the maximum cash withdrawal at N5 million has not been amended, the Central Bank of Nigeria’s limit of N20,000 per day and N100,000 per week is illegal, null and void in all material respects.
He urged Nigerians to disregard the illegal announcement and compelled President Muhammadu Buhari to direct the CBN’s management to withdraw the illegal guideline.
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