New Naira: CBN Governor To Appear Before The House Or Risk Being Arrested – Reps

The House of Representatives Ad-hoc Committee on new naira re-design and naira swap policy has said that the CBN Governor must appear before the house or stand the risk of being arrested on the strength of legislative writs signed by Hon. Speaker on Monday.Information Guide Nigeria

The House of Representatives Ad-hoc Committee on Sunday rejected the 10-day extension granted by the Central Bank of Nigeria (CBN) to exchange old naira notes.

Recall that the Apex bank had fixed January 31 as the deadline for exchanging the old naira notes; N200, N500, and N1,000.

However, on Sunday, the CBN Governor Godwin Emefiele said the deadline has been extended to February 10 by President Muhammadu Buhari.

Reacting to this, the Adhoc Committee, chaired by the Majority Leader, Hon. Alhassan Ado Doguwa rejected the extension.

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NIGERIAN TRIBUNE reports that the committee insisted that the CBN must comply with Sections 20 sub 3, 4, and 5 of the CBN Act.

Hon. Doguwa said: “The 10-day extension for the exchange of the old naira notes is not the solution: We, as a legislative committee with a constitutional mandate of the House, would only accept clear compliance with section 20 sub 3, 4, and 5 of the CBN act and nothing more.NYSC portal

“Nigeria, a developing economy and a nascent democracy, must respect the principle of the rule of law. And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee.”

Doguwa described the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood.

According to him, the CBN Policy is capable of frustrating the forthcoming general elections.

“Security agencies and their operations, especially at the States level, are generally funded through cash advances and direct table payments of allowances to operatives during elections“.

He assured Nigerians that the Ad-hoc Committee would continue its work until it gets the demands of Nigerians addressed under the laws of the land.JAMB Result

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