Central Bank (CBN) governor Godwin Emefiele again failed to appear before the House of Representatives on Tuesday.
He was invited to brief the lawmakers on the new cash withdrawal limit.
The House of Representatives first summoned the CBN governor on December 8, ordering the suspension of cash withdrawal limits by the apex bank after a resolution during plenary.
This came after the CBN, two weeks ago, issued a circular ordering Deposit Money Banks (DMOs) and other financial institutions to ensure that weekly over-the-counter (OTC) cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500,000, respectively.
The apex bank further fixed daily maximum withdrawals via point of sale (PoS) terminal at N20,000.
According to him, the redesigned notes will limit cash in circulation and therefore restricts the heinous activities of ransom-demanding kidnappers as well as politicians wont to rigging elections.
