Cash withdrawal limit: Nobody needs more than N100K cash weekly – Reno Omokri

Reno Omokri

Reno Omokri, a former presidential aide, has spoken in favour of the cash withdrawal limit by the Central Bank of Nigeria (CBN).

Recall that the CBN recently restricted the maximum cash withdrawal over-the-counter (OTC) by both individuals and cooperate organizations per week to N100K and N500k, respectively.

Responding to the criticism that has followed the policy, Reno Omokri said that no Nigerian needs more than N100k cash weekly.

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Aside from paying for transport fares or purchasing groceries, everything can be done cashless, he added.

The CBN announcement sparked outrage on social media, with many saying the policy would make Nigerians poorer, especially the POS kiosk operators.

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