The Central Bank of Nigeria (CBN) has restated its commitment to the N150,000 cash withdrawal limit policy for individuals and N1million for corporate bodies, saying measures had been put in place to ensure that the policy works.

The Central Bank governor, Mallam Sanusi Lamido Sanusi, while speaking at the National Youth Service Corps (NYSC) permanent orientation camp in Ise, Ise/Orun Local government Area of Ekiti State at the weekend, explained that the policy would help curb crime rate, control interest rates and reduce the charges by banks among other benefits.

Represented by the Ado-Ekiti branch controller of the Central Bank, Mr Samuel Ogungbayi, Sanusi, in a lecture entitled: “Youth Empowerment as a Tool for Sustainable Development: The Central Bank of Nigeria Interventions” also reiterated that a product, “Islamic banking” was not supposed to be viewed with emotions but by what it had to offer.

Speaking after the lecture, in which the apex bank reeled out products to encourage the corps members undergoing orientation to set up enterprises, Sanusi said the new cash policy would work because banks would start charging for deposits beyond the limits set for individuals and corporate organisations.

Meanwhile, Mallam Sanusi has blamed the high rate of youth unemployment in the country, which he put at 41.6 per- cent, among other social indicators, for the social melee and poverty in the country.

Presenting a paper with the same title as the one presented in Ado-Ekiti at a programme organised by the National Youth Service Corps (NYSC) at the NYSC Orientation Camp, Yikpata, in Edu Local Government Area of Kwara State, at the weekend, the apex bank boss broke down the youth unemployment figure as 23.3 per cent for males and 17 per cent for females within the age bracket of 15-24 year