New naira note swap: Gbajabiamila threatens Emefiele with arrest

The Speaker of the House of Representatives Mr. Femi Gbajabiamila has threatened to issue a warrant of arrest to the Inspector General of Police (IGP), Alkali Baba to compel the CBN Governor, Godwin Emefiele, and Managing Directors of Domestic Deposit Banks who fail, refuse or neglect to respond to the summons by the House.

The Speaker who issued the notice after reading the letter sent by the CBN Deputy Governor (Corporate Services), Edward Adamu disclosing that the CBN Governor is on President’s delegation to Dakar, Senegal, differed with the Apex bank authorities on the deadline set for the phase-out of the old notes.

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He expressed displeasure over the impacts of the new cash policy on the economy and well-being of the citizens.

“The Resolution of the House was predicated on information showing that the rollout of the redesigned naira notes has been an unmitigated failure.

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“This failure has real and dire consequences on the ability of Nigerians to conduct business across the country.

The speaker described the refusal by the CBN to heed the invitation by the House of Representatives as evidence of a blatant disregard for the well-being of the Nigerian people who are their customers, as well as an insult to the authority and prerogatives of the people’s Parliament.

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According to him, Notwithstanding the deadline imposed by the Central Bank of Nigeria(CBN), this House will see to it that the provision of the law is honoured in full.