HURIWA Faults CBN’s Cash Withdrawal Policy

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The Human Rights Writers Association of Nigeria, HURIWA, faulted the Central Bank of Nigeria, CBN, cash withdrawal limits.

A statement issued by the National Coordinator of the Association, Emmanuel Onwubiko, said the measure will further worsen the depreciation of the naira.

The statement urged the apex bank and the Federal Government to cut down foreign loans and reduce Nigeria’s worsening external debt burden.

It noted that the policy is bad for a country with 21.09% inflation rate, 133 million people in multidimensional poverty, and unemployment rate of over 33%.

Written by: Helen Obih

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