 You're welcome back is still a plus politics on plus TV Africa now political parties have kicked against the new cash withdrawal Limits introduced by the central bank of Nigeria Stating that it could choke the political process Governor Ahmad of Fintory of Adamawa state had even accused the central bank governor Godwin Amifili of targeting the political class with a new cash withdrawal limit Which restricts over-the-counter cash withdrawal by individuals and companies to one hundred thousand Naira and five hundred thousand Naira respectively per week According to a memo signed by the CBN's director of banking supervision Haruna Mustafa withdrawals above the threshold would attract processing fees of 5% and 10% respectively for individuals and corporate entities going forward in addition third-party checks above 50,000 Naira shall not be eligible for OTC payment while Extant limits of 10 million Naira on clearing checks still remain Joining us live to discuss these is catch on non-new drew the special advisor on public affairs to the presidential candidate of the Labor Party PTOB and We're hoping to be joined also by Honourable Angu-Angu SSA to the Benway state governor on student affairs on and not central zonal coordinator at tico support organization Mr. Catch in the meantime welcome to the program Thank you very much for having me Okay, we're glad to have you What is really the grounds? with the policy of the Maximum withdrawal as brought by the central bank of Nigeria Well from what I can say a lot of people want the whole system. They're very used to I think it's an issue of Not being very used to change. I think The fact that cellular telephony and I have service in every neck and corner of this country We should allow this a trial and if there are problems Amendments will be done in front and do not want to sell hysteria to the population But all I will say nobody's holding your money All they are simply trying to reduce is the physical cash Available on daily transactions in the Nigerian economy. So I think we're gonna get by Okay, I'm not going to raise alarms, but let's see how it goes I'm sure the same standard will apply to all who already has his reasons Central bank is in charge of monthly policy and it has made it smooth Let's see and of course they're saying that they are going to be flexible Let's see what that means. They will be flexible. Let's watch them Let's play along and let's raise our voices for those things that go on the mind Especially the SMEs and the very poor within our population Apart from anything else Some of the people who have argued against this policy say as good as it might seem the timing is really really wrong What is your take on that? Well, the timing and it's being wrong It's as a consequence of the calculation by some politicians that they will do put buying If you do good buying, whoever you want to pay to you want to pay to all your Co-agents you can pay them through the wire transfer But you've unless you want to do good buying. That's what you need excessive cash. That's not proper That's non-democratic. So I think if you follow the property noise from the political class I think it's a good Policy by the government to try to dissuade as much as possible the incidence of good buy Do you really think it will have a very big influence on these wood buying because like they say if they Bird learns to fly without catching the the hunter will learn to shoot without missing. So Will it really affects whether or not people will buy votes? You cannot stop people from trying to teach Don't forget as a problem Nigeria has you can stop them from trying to cheat and that's the reason why We should do everything possible to reduce that particular Intention to teach they would try to do anything they want Let us stay this and watch how it goes if there are problems since the central bank They will are willing to be flexible when we raise our voices and they will find tune as we go on I do I don't really think there should be a need for panic Well, we'll see survive this They simply trying to withdraw as much physical cash as possible from the physical economy Okay, but Some other people have also expressed concern that even though this is a good policy And like you say that we shouldn't panic but be optimistic that it is going to work. We are going to Get by But do you believe in the the banking system of Nigeria that they are going to pull through with all this because we've seen Yeah, I told you this is something new so the country will have to grapple with this Let us see how it goes No idea comes out perfectly, but you work on them as the time goes on So let's see how this comes and together we'll head the central bank to actually sort everything as we go for No, the the concern is not even about whether it's it's a new thing. I'm concerned about My question was how much faith do you have in the banking system as at now even without this new policy? Let the policy stay we should not have too much argument about this There are people who wish to buy foods if the government doesn't want that it can reduce the incidence of good buy That's okay. Let's see what goes on. People should stop complaining and face up to the facts Okay, well, we've been joined by our second guest. Mr. Angu Angu who is SSA to the governor of Benway state Mr. Angu Welcome to the program Thank you very much Yes We were just asking What do you feel about this policy of the central bank of Nigeria that they have said that there's a maximum the peck the maximum of withdrawal to 100,000 per week for individuals and 500,000 per week on individuals What do you think about a policy especially as it affects the upcoming election? Mr. Angu Thank you very much. My thoughts Yeah, so share my thoughts. Thank you very much. Good evening, Nigeria. It's good to have me in your studios again. I Would like to quickly say that okay, I'm no longer a senior social assistant to the Benway state government. I I proposed in 2022 I resigned my appointment from the Benway state government Okay, so thank you very much I would like to say that the monetary policy That has been put in place by the CBN as good as they say he has Nothing to do with elections being by the corner or not Nothing about the timing but if we look at the law The law is very clear on monetary withdrawal So If we now come out make pronouncements here and there that are not backed up by the law it then Begin to see massive where banana island Loil less people Because every pronouncement of government been backed up by law So to say that there is nothing wrong Nigerians should stop complaining. It is not correct As much as we want to strengthen our system go cashless Whatever should pronouncements whatever Measures that are to be put in place For all to go cashless Should be backed up by the law? So I would like to say quickly as many other Nigerians are reserved the pronouncements by the CBN Have no backing in law So if the CBN Wants to Bring about a cashless society and there are some sections of the law that needs to be amended and I think Until that is done Implementing obnoxious laws Will not help Nigerians The CBN should go back to review the laws and believe one of them must have done that That is why There is this general feeling that maybe the CBN is making this pronouncement by this time to affect politicians Because we expect that the CBN As a body of government as an institution of government should know the law very well Should not just come out and make the pronouncements But I don't understand you Mr. Ongu just a moment. I do not understand the CBN There is a law that established the CBN and there's a law that gave the CBN the autonomy to do a lot of things Including to change the face of the Naira that it just did now It didn't need another law by the legislature to do that So why do you think it doesn't have the powers to peg whatever they want to peg as an autonomous body? Yes, sir. I will Take you to the money laundering at 2022 Section 2 of the law states that Section 2 of the law 1, 3 No passing of body, corporate or corporate body shall accept a transaction through a financial institution Make or accept cash payment of a sum exceeding A 5 million Naira or each equivalent in the case of an individual Be 10 million Naira or each equivalent in the case of a corporate body That is section 2 of the money laundering at 2022 So what the CBN is saying now Contradiction There shouldn't be any contradiction But if there is such a law and the CBN goes ahead to make pronouncements that are not backed up by law Please Nigerians To to buy into conspiracy theories that look it is because of elections And to maybe avoid vote buying Not to make obnoxious laws or pronouncements Just like the CBN has done. So the CBN should go back and do the right thing The CBN should go back and look at them. Really, there is a law creating it, right? But there is there are other laws too I don't think any apart from the Nigerian constitution. I don't think any other laws surpasses the other Okay, let me remind you before I go I go back to as a first guest you Have just said something about laws being being broken by this pronouncement and The way they the the pronouncements by governor of history, for instance of the PDP who is in a dam our state Suggests that maybe the CBN did this out of jealousy That so that it will affect the politicians like you have also said as well What actually how actually will this law affect the politicians? Because if you can still do transfers you can still do a lot of other things without carrying the cash around How do you think it's really going to affect the politicians? That that that is what we are saying What we are saying is The CBN should do the right thing the CBN should not leave room for people to speculate and The business of governance the business of policy formulation is very serious business And you don't need it to speculations Just like you mentioned his excellency the governor of a dam our state government military That he was saying he made pronouncements that you know it's which haunt politicians also You don't you don't allow that happen when you are making a policies of government I Well, well, did you seek the power meetings because I think sometimes when some pronouncements are made you need to get a bag in of stakeholders Which is win and jabians was the buying of stakeholders button before such pronouncements were made Or it was just that he wins of someone or somewhere that feels okay. Let's do this because it's good I want to say the policy is a good policy Come on But that should be done Wait without leaving us to speculation That should be done being part of my law and I would like to quote the second part of That session two of the morning country act 2022 We say that a person shall not conduct two or more transactions separately With one or more financial institution or Exhumated non-financial businesses and professions One We should be Reach the duty to disclose information under this art by any other means This section to Okay For people to do multiple in a transaction, okay Okay That may make me want to take a seabed what should be reviewed Okay The buying of stakeholders before coming now to make It is very flimsy that the city and government will just come out and make pronouncement The buying of stakeholders should be gotten and let other relevant laws should be looked into and when that is not done It leaves us with speculations Okay, let me go to mr. Catch or none of you here mr. Catch. You were very Very optimistic you were very yeah optimistic is the word that everything will work out for us and all that People are expressing concern and all but you need to talk to the people the people in Nigeria How how you feel the election of 2023 is going to be in spite of these new policies and all that We already know that some people have taken the CBN to court like Falano for instance A lawyer of renown has taken the CBN to court and he's saying he's going to fight it because it's illegal But what do you have to say to either that or the people who are also askings about this who are also very pessimistic about what the outcome might be because of this policy It does not matter what they say We live in a society governed by the rule of law try the laws if you have any Opposition in target, whatever it is There is no big issue about this game I think the decision had been taken in line with CBN's believe that it is Excusing for multiple so whoever disagrees It's right. She'll go as far as it has gone. They're going to cut it as simple as that. I don't think we should make a noise about this Okay, so Okay, so finally to you Mr. Oh, no, no, let's just know how much faith do you have in next year's election as election With our policy or not policy How much faith do you have in the preparation of INEG and in whatever has been put in place to make sure that the election comes and goes next year We're going to try it for the first time the amendments That's demand by metric authentication before voting that cancels in need for incident for Also cancels in need for the collection center, which is the center where they So we're changing our country. Let us see how to go. We are quite optimistic that this will help And that's why you see that you have much more optimistic about the politics What those who believe in transactional politics are the ones who are thinking of the old order So I think I'm very optimistic about next year, and I want all Nigerians to be optimistic Okay, to see the letter as something similar to the civil rights act I want Nigerians to be hoping again that a better Nigeria is possible and they can actually Thank you very much. Mr. Ongo I'd also like you to Tell us your give us your final word what you feel about the next year's election How optimistic or otherwise you are that we are going to succeed I Those changes I'm just like my brother actually mentioned We hope that next year the next is going to be better the life of loading Unloading of elections result Those are going to prove our elections quickly and I would like to say that my party the people's democratic party Under the flag be our presidential It's excellency the former vice-president of Nigeria We are poised as I speak to you from just the capital city of Plato We're here today to Converse for votes and we are for the Philippines boys to Recover this country rescue this nation and rebuild a very vibrant Nigeria. So the Philippines as a party that I belong to We are ready. We are with as I mentioned with the bold policy changes within a Literary Empire the independent national and later a commission The elections of next year are going to be Okay, thank you. Thank you gentlemen for being there and sharing your your thoughts on the whole process and catch on No, no, dude. Thank you so much for coming on the program and Also, mr. Angu Angu who you corrected us. You are now just a zonal coordinator at Tico support organization Thank you so much for being a part of our program today. Thank you very much. I appreciate Okay, that's how we wrap it up on plus politics tonight. My name is Nyam Gul Aghaji to have a good evening