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Adamawa Gov Fintiri accuses Emefiele of targeting political class with new cash withdrawal policy

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Adamawa State Governor, Ahmadu Fintiri has accused the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, of targeting the political class with the cash withdrawal limit policy unveiled by the apex bank on Tuesday.

Fintiri, who was reacting to the new CBN policy during a campaign engagement in Kala’a, Hong Local Government Area, said it was evident that the policy by Emefiele was targeted at the political class.

He said the policy coming shortly after Emefiele’s uneventful foray into politics which had been prematurely truncated, could only have been retaliatory given that the policy was likely to worsen poverty among the citizens.

“What is breeding poverty? Economic policies. Look at the one that is about to be implemented by the Central Bank which would further throw the country into poverty.

“Nobody is saying the economy shouldn’t be cashless. Take time and do it systematically. We shouldn’t do it as if some people wanted to be politicians and they were denied the opportunity, then they use their office to punish the politicians,” Fintiri said.

The Governor who cautioned against such policies tasked holders of key national institutions to act in the overall national interest.

The CBN had this week placed a cap on the amount of cash individuals and corporate entities can withdraw from over-the-counter, Automated Teller Machine (ATM) and Point of Sale (PoS) machines in furtherance of its cashless policy.

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The policy has continue to generate reaction, especially from the political class who viewed the measure as deliberately targeted at them ahead of the general election which is less than three months away.

On Thursday, the House of Representatives called on the CBN to suspend the policy pending interaction with the legislators on the kernel of the new measures.

The parliament also summoned the governor of the CBN to come and brief them on the details of the new measure and how it arrived at such measure.

Speaking in Daura while on a courtesy call on President Buhari, the CBN governor said the newly redesigned naira notes have been distributed to banks and assured that commercial lenders will start dispensing the currency notes to customers from next week.

Emefiele said while the CBN has no intention of reversing the policy, there may be need to tweak the limit on cash withdrawal in the future.

Meanwhile, the Adamawa Governor also reiterated his call for true federalism. Fintiri called on President Muhammadu Buhari to amend the constitution to allow for a true federation where states are allowed to take full control of revenues and by so doing assure autonomy for the third tier of government.

“If we are talking about governors diverting funds, we expect the government to correct the anomaly by sponsoring amendment to the Nigerian constitution to separate the office of the accountant general of the federation from the accountant general of the federal government so that funds belonging to local government and the state would not also be converted by the federal government, because what the governors’ are being accused of, the Federal Government can equally be accused of doing same ten times over,” he said.

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