The governors of the 36 states have planned to meet with Nigerian Central Bank Godwin Emefiele on Thursday about the current withdrawal policy and the redesigned naira notes.

The governors, under the auspices of the Nigerian Governors Forum through its spokesperson, Abdulrazaque Bello-Barkindo, said in a statement late Tuesday that the governors would exchange ideas with Emefiele on “the economic and security implications of the current withdrawal policy and the redesign of naira”.

On October 26, 2022, the CBN revealed its decision to redraw the naira notes, and subsequently ordered Nigerians to exchange their naira notes from banks on or before January 31, 2023.

Spokesman Bello-Barkindo said that the NGF Chairman, who is Sokoto State Governor Aminu Tambuwal, had invited Emefie to meet with the governors on Thursday at 9:00 pm, virtually.

The spokesperson referred to NGF CEO Mr. Asishana Okauru, noting that the virtual meeting will focus on the latest withdrawal policy of the main bank and the naira redesign.

He said: “For the virtual meeting, the agenda is titled, “The economic and security implications of the naira redesign and withdrawal policy.

“The discussion promises to encourage participation and dialogue among various stakeholders, including governments and civil society organizations, to find a solution to the persistent problem.”

The PUNCH reported how the CBN set the maximum weekly limit for cash withdrawals by individuals and corporate organizations at N500,000 and N5 million respectively.

Initially, the CBN lowered the weekly over-the-counter withdrawal limit for individuals to N100,000 and for corporate organizations to N500,000.

It also reduced withdrawals at ATMs and point of sale terminals to N20,000 per day.