…Insists CBN Governor Appear Before The House Or Risk Arrest
From Maduabuchi Nmeribeh, Kano
The House of Representatives Adhoc Committee on new Naira re-design and Naira swap policy has kicked against the 10 days extension of circulation of old Naira notes announced by the Governor of the Central Bank of Nigeria (CBN) on Sunday.
The Committee described the extension as a “political gimmick.”
The AUTHORITY reports that President Muhammadu Buhari on Sunday, approved the CBN request for the extension of the deadline for swapping of old Naira notes to the redesigned ones.
The deadline was extended from January 31, 2023, to February 10, 2023.
A seven-day grace period, beginning on February 10 to February 17,2023, was also approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.
The development followed President Buhari’s meeting with CBN Governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.
But a Statement signed by the Chairman, House of Representatives Ad-hoc Committee on new Naira re-design and Naira swappolicy, Hon. Alhassan Ado Doguwa, who is also the Majority Leader of the House, on Sunday, stated that the extension was not the solution to the Naira notes controversy.
The Ad-hoc Committee rejected the extension, insisting that the CBN must comply with sections 20 sub 3, 4, and 5 of the CBN Act.
Recall that the House, during its sitting last Tuesday, following the outcry by Nigerians, constituted the Ad-hoc committee to look into the issue.
Doguwa said that: “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.
“Nigeria as 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.”
He said under his chairmanship, the Committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land.
Describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said 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.
He also said the policy is
capable of frustrating the forthcoming general elections.
“Security agencies and their operatives, especially at the states level are generally funded through cash advances and direct table payments of allowances to operatives during elections,” he added.
