New Naira Notes: Reps threaten to arrest Emefiele, bank chiefs
The Speaker of the House of Representatives, Femi Gbajabiamila threatens to issue a warrant of arrest on the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele and some bank directors over their collective refusal to honour an invite by the green chamber over the scarcity of three newly designed naira notes.
The Speaker said the House had summoned the CBN governor and bank directors over the January 31, 2023 deadline for the validity of old N200, N500 and N1,000 notes but the bank chiefs refused to heed the invitation by the green chamber.
Gbajabiamila, in a statement on Thursday, said the bank chiefs, by shunning the invitation of the House, insulted the authority and prerogatives of the people’s parliament. “This is unacceptable,” he said.
Although the Speaker, in his statement, said the warrant to be issued would be against the CBN and bank directors but did not expressly mention Emefiele.
Gbajabiamila said he will not hesitate to order the Inspector General of Police, Akali Baba to issue an arrest warrant to compel CBN directors to appear before the committee, adding that the House ought to adjourn today to prepare for the elections, however, they will stay back to resolve the currency swap crisis.
“I will, pursuant to the authority conferred by Section 89 (1)(d) of the Constitution of the Federal Republic of Nigeria and Order 19 (2)(1) of the Standing Orders of the House of Representatives, not hesitate to issue a warrant to the Inspector General of the Nigeria Police Force to compel the attendance of the CBN or Managing Directors who fail, refuse or neglect to respond to the summons by the House of Representatives,” he said.
He also stated that Emefiele’s deadline is not consistent with sector 20 of the CBN Act, noting that the banks are compelled to accept the old notes even after the expiration of the deadline.
It would be recalled that the Presidential candidate of the APC, Bola Tinubu, who is believed to be thepolitical Godfather of Gbajabiamila, also spoke against the policy on Wednesday during a rally.
Tinubu alleged that the policy is targeted at his presidential ambition.
