Politicians More Affected By CBN’s Cash Withdrawal Limit, Says CAN President

The President of the Christian Association of Nigeria, Most Reverend Daniel Okoh, has said the new cash withdrawal limit of the Central Bank of Nigeria will have more impact on politicians.

Speaking at the thanksgiving service of the new president of the Organisation of African Instituted Churches, Nigeria Region, Okoh who was represented by the immediate president of OAIC, Napo Emuchay, said the policy was targeted at politicians who have hoarded cash for election purposes.

He said, “It will affect politicians more because in order to evade taxation or avoid recovery, they keep loads of millions of naira in their accounts. They want to catch up with them.

“One thing that is likely to happen now, the price of dollar will shoot up because politicians are gearing up. All the money they have packed, they cannot take to the bank. They are planning to buy dollars so that they can change them when the new currency is out.”

He predicted that a dollar may be sold for N1,000 in January on the back of forex mop up by politicians.

According to him, if the cash withdrawal limit were for the betterment of the country, the church would support it.

Meanwhile, President, Organisation of African Instituted Churches, Nigeria Region, Israel Akinadewo, called on Nigerians to vote for leaders with pedigree of success.

He said the country needed detribalised godly leaders who can defend the country and unite the nation.

“ATM does not request for our tribe and faith before dispensing; rain has no preference for either of these too, and in as much as there is no special financial technology on the premise of tribes and region, then, our selfish needs should never undermine our collective growth,” he stated.

Akinadewo also stressed the need for Nigerians to believe in themselves, urging them to think more about what they can do for the country rather than what the country can do for them.

“Furthermore, our dependence on foreign nations for everything should be reduced to the barest minimum but encourage local participation,” he added.