Senate President Lawan Denies Sweeping Findings On CBN’s Cash Withdrawal Policy Under The Carpet

The Senate President, Ahmed Lawan, has denied claim that he’s trying to sweep the inquiry into the cash withdrawal policy of the Central Bank of Nigeria (CBN) under the carpet.

Fellow lawmaker and party member, Adamu Bulkachuwa, representing Bauchi North, had countered the decision to delay deliberation on the findings of the committee on Banking and Financial Institutions to Wednesday.

Ripples Nigeria had reported that the committee on Banking and Financial Institutions had quizzed two central bank deputy governors last week on the essence and impact of the cash withdrawal policy. 

The committee was expected to submit its report during Tuesday’s plenary. However, due to the absence of the committee’s chairman, Senator Uba Sani, the Senate president approved postponement to Wednesday.

Sani, who is the gubernatorial candidate of the All Progressives Congress (APC) in Kaduna State, was absent following the APC rally held in Kaduna State on Tuesday.

Speaking on the cash withdrawal limits imposed by the CBN, Bulkachuwa said the Senate shouldn’t allow the matter to be swept under the carpet, as the CBN governor, Godwin Emefiele, remains stubborn to the directive of the House of Representatives. 

“My objection is that we shouldn’t allow this thing to be swept under the carpet. It is a very serious issue. Nigerians are waiting to hear exactly what the National Assembly will do. 

“The House of Representatives have asked the governor of the Central Bank to stop action on this. But in his typical character, he is being stubborn. 

“And I think delaying it until tomorrow is giving him another chance. And we don’t want to hear another excuse. So I urge this Senate to discuss this today (Tuesday) and now.” 

Responding to Bulkachuwa, however, Lawan said the majority of the lawmakers in the Senate appeared to agree with the postponement, and he wasn’t attempting to snub the matter. 

“I don’t think it’s fair to say I was sweeping this under the carpet, it’s not fair to say that, because my understanding of sweeping something under the carpet is to avoid, nobody here suggested, by any action or inaction that we’re avoiding discussing this thing. 

“I think it’s appropriate that we give our colleague, the chairman of the committee, the opportunity to come and present himself. 

“And Senator Adetunmbi is a member of the committee, the vice chairman on the committee’s here, the chief whip himself, they were all in attendance, they have something to tell us. 

“But the chairman wants to present the report himself, when he presents the report, we’ll be better informed. Then we can take the next appropriate action,” Lawan stated.