Lawmakers order CBN to suspend new charges on transaction

The House of Representatives on has directed the apex bank- the  Central Bank of Nigeria (CBN) to suspend the new charges placed on Nigerians under its new cashless policy, with immediate effect. 

CBN had earlier announced an increase in charges on withdrawals and deposits exceeding N500,000.

But in a plenary session, the Lower House ordered the apex bank to suspend the policy until appropriate consultations have been concluded.

This was, also affirmed via a series of tweets on the official Twitter handle of the House of Representatives.