Cash Withdrawal Policy Targets Poor Nigerians, Will Strangle Political Process – PDP

Cash Withdrawal Policy Targets Poor Nigerians, Will Strangle Political Process – PDP

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The Peoples Democratic Party (PDP) has said that the cash withdrawal policy announced by the Central Bank of Nigeria is targeted at poor citizens.

Dele Momodu, the Director, Strategic Communications, National Election Management Committee of the PDP Presidential Campaign Council, stated this In an interview with Sunday Punch.

Momodu admitted that “if enforced, the policy would strangulate the political process, not the PDP alone,” noting that the party’s finance committee would address the policy as it affected the party.

He said, “Why make a policy that will largely affect the poor more than the rich? My worry is that most of the country’s policies target the poor. The PDP is worried about the poor market women, and the ordinary man on the street because we want to run a cash-and-carry economy.

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“In 2014/2015, I am sure if Buhari (Major General Muhammadu Buhari (retd.)) had no access to funding, he would not have been the President of Nigeria.

“There are people who are making contributions to political parties, and some parties have set up structures to receive support from people. How then will they be able to access funds if the government is saying that one cannot withdraw more than N100,000 in a week?

“I read somewhere that the CBN said the policy will not be rigid, but why make the policy in the first place if it is not going to be rigid?”

“The finance committee (of the party) is better placed to say the extent to which this will affect us as we prepare for a series of activities leading to the general elections. If the committee thinks the party will be negatively affected, perhaps, they will consider writing to the CBN. But, like I said earlier, this is more of a problem for the ordinary man on the street than it is for a political party.” Momodu said, on how the policy implementation may affect the PDP.


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