Akeem Lasisi
Professor of Capital Market, Uche Uwaleke, has advised the Central Bank of Nigeria to increase cash withdrawal limit to N100,000.
The limit is currently N20,000 amid the currency circulation crisis that the country is witnessing.
In the process of mopping up old naira notes for the circulation of the new ones, it has become pervasively difficult for many people to get cash while digital transactions are also suffering hitches.
Speaking on TVC on Tuesday afternoon, Uwaleke, who is also a former Commissioner of Finance in Imo State, noted that the CBN’s cashless policy was good for the economy, but its implementation needed to be urgently improved upon.
According to him, the apex bank should ensure the supply of more money to ease the tension in the financial chain.
Also, he said, distribution should be firmed up while enforcement should be stepped up to check those hoarding or diverting funds.
Uwaleke, however, urged the Government not to cancel the cashless policy, noting, “I don’t think cancelling the policy will be in the interest of the economy.”
