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Katsina State Governor Says CBN Cash Withdrawal Limits Will Help Economy

Despite strong opposition from lawmakers and some economic experts in the country, the Katsina State Governor, Aminu Masari, has thrown his weight behind the new Central Bank’s policy limiting daily cash withdrawal. While speaking to journalists after a meeting with President Muhammadu Buhari in his Daura hometown on Saturday, December 10, 2022, Masari argued that the new policy “will help the economy.”Replying to questions on why state governors have maintained silence since the policy was announced, the Katsina governor said only those who stockpile millions in their house will be afraid of the new policy.

 It will help the economy. Now, all the money has not been in the banking sector. The central bank governor said that they have mopped over one trillion naira into the banking sector which was stashed in soakaways and other places.

“We believe that by the end of the transition to the new currency, the remaining trillion will be back in the banking sector. I think it is very good for the economy.” Masari said he visited Buhari “to find out how he is coping with his two or three-day holiday here in his hometown in Daura, Katsina State. So it’s essentially a private visit.” Speaking on the forthcoming general elections, Masari, a former Speaker of the House of Representatives, boasted that the All Progressives Congress (APC) will win more votes because they’ve fulfilled their promises to Nigerians. Well, I think it will expect more votes for APC here in Katsina state. APC has performed well at the national, state, and local government. We have done well in Katsina state, we have been able to touch the lives of millions of people in Katsina State, we have been able to have a presence in all the 361 wards of the state and the social intervention has cut across all of Daura. “You have seen the Federal Government’s presence in terms of the federal university, in terms of zonal hospital, in terms of federal polytechnic and many projects of urban renewal, urban development here in Daura and the surrounding communities.

“So APC has delivered in Katsina State and certainly come 2023 elections, Katsina State will be for APC.

Masai noted that some successes have been recorded in the area of kidnapping and cattle rustling, adding that, although the military had covered considerable grounds, a few bandits enclaves still exist in the state. “We are making considerable progress. The president has given marching orders for security agencies and we at the state government level have been providing all the logistics needed as much as we can to the members of the security agencies. “So from the report I have last week, there was a drastic drop in terms of kidnapping and cattle rustling. Luckily enough, what we are having now is mainly kidnapping and some rustling of animals.


“We don’t have the kind of bandits attacks we use to have. So we are progressing but we are seeing some remnants, they are not Boko Haram but Islamists from other West African countries in one or two local governments and we are dealing with the situation.”

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