Nigeria lawmakers urge its Central Bank to suspend new charges on transactions

The House of Representatives on Thursday directed the Central Bank of Nigeria to suspend the new charges placed on Nigerians under its new cashless policy, with immediate effect.

The Apex bank had announced an increase in charges on withdrawals and deposits exceeding N500,000, however, in a plenary session, the Lower House ordered the immediate suspension of the policy until appropriate consultations have been concluded.

This was confirmed in a series of tweets on the official Twitter handle of the House of Representatives.

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