CEOs of banks for hearing

process to be concluded.

He said it was time the House urgently intervene to avert a possible economic chaos, as Nigerians would be forced into stampede and desperate moves to beat the deadline’ citing the conflicting argument between the commercial banks and the CBN on availability of the redesigned notes as a good reason to intervene.

While agreeing that the move towards cashless economy was in tandem with global best practices, the lawmaker argued that “for such a policy to be successful, it should not be overbearing on the people and the economy”, adding that

“the financial institutions in Nigeria lack the infrastructure to handle a sudden increase in customer base as well as adequate employees to handle any challenges that could arise in the process of implementing the cashless policy within the limited time given by the CBN”.

He also prayed that President Muhammadu Buhari should intervene in the insistence of the CBN on the tight deadline for the implementation of the sashless policy and currency swap.

In his intervention, Speaker Femi Gbajabiamila posited that it was important for both management of the CBN, as