CBN Policy: ‘How Can You Say I Can’t Access More Than N100,000 In A Week?’ – Adebayo Adams

The Lagos state Chairman of the Nigerian Association of Small and Medium Enterprises, Dr Adebayo Adams, has criticized the recent Central Bank of Nigeria, CBN, policy which limited individual and organization cash withdrawal to a maximum of N100,000 and N500,000 weekly (Punch).

Speaking recently in reaction to the policy, Adams declared; “How can you say I can’t access more than N100,000 in a week? What do I do with N100,000? So it is going to have serious effect on the local market. These people are selling on a daily basis at Ketu, Igboyi, Oyigbo market, most of them do not have POS or ATM.

Adams who visibly held the opinion that the new CBN policy was bad for the local market, went further to express the fear that the limitations would affect negatively the small businesses across the nation.