House C’ttee Demands Arrest Of Emefiele Over Old Naira Deadline

• House Committee has demanded the arrest of Godwin Emefiele over the old Naira deadline.

• The ad-hoc committee on Sunday rejected the 10-day extension by the CBN.

• The CBN had fixed January 31st as the deadline for the exchange of the old N200, N500 and N1000 notes.

EKO HOT BLOG reports that the House of Representatives Adhoc Committee on New Naira Re-design and Naira Swap Policy has demanded that the Governor of the Central Bank, Godwin Emefiele be arrested.

Reacting to the 10-day extension of the deadline by the apex bank, Alhassan Ado Doguwa, the ad-hoc committee chairman, rejected the extension, insisting that the CBN must comply with Section 20 subsections 3, 4, and 5 of the CBN Act.

Recall that the House of Representatives, during its sitting on Tuesday, following the outcry by Nigerians, constituted the ad-hoc committee to look into the issue.

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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 subsections 3, 4, and 5 of the CBN Act and nothing more.

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”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 ad-hoc committee.”

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