Breaking: Emefiele appears before Reps over new naira notes

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday, appeared before the House of Representatives Adhoc Committee on new naira redesign and naira swap policy.

The House of Reps had threatened to issue a warrant of arrest on Emefiele over his failure to appear before the green chamber on the scarcity of the redesigned naira notes.

It would be recalled that the committee, on Sunday, rejected the ten days extension of the deadline for the exchange of the old currency by the CBN.

The apex bank had extended the deadline for the collection of old 200, 500, and 1,000 naira notes to February 10, 2023, noting that President Muhammadu Buhari approved the extension.

READ ALSO: New naira notes: Reps threaten Emefiele with arrest

Reacting to the development, the House of Reps Adhoc Committee, chaired by the leader of the House, Hon. Alhassan Ado Doguwa, rejected the extension, stressing that the apex bank must comply with sections 20 sub 3, 4, and 5 of the CBN act.

Describing the extension as a mere political gimmick to further deceive Nigerians and worsen the economy and social livelihood, Doguwa said Emefiele must appear before the green chamber or stand the risk of being arrested on the strength of legislative writs signed by the Speaker of the House, Femi Gbajabiamila.

Details later…

The Star