Femi Gbajabiamila Threatens To Arrest Emefiele Over Naira Notes Swap

The Speaker of the House of Representatives, Femi Gbajabiamila says he is ready to issue an arrest warrant on the Governor of the Central Bank of Nigeria, Godwin Emefiele if he fails to appear before its committee on Thursday.

Gbajabiamila also hinted that the lawmakers would reconvene on Tuesday to take action against Emefiele and other bank chiefs who fail to show up. This recent statement is against the plan of the House, as it was supposed to adjourn plenary till February 28 for the elections.

Noting that Emefiele is his friend, the Lawmaker revealed that he would waste no time in asking the Inspector-General of Police to ensure the forceful appearance of the CBN governor and his arrest.

What informed Gbajabiamila’s threat?

The lower chamber of the National Assembly had earlier set up an ad-hoc committee to investigate the scarcity of the new naira at the Deposit Money Banks. The committee was established to mitigate tension over the January 31 deadline set by the CBN for the exchange of the old notes with the newly designed ones.

Speaking at the plenary today, the Chairman of the committee, Alhassan Ado-Doguwa, informed the House about the failure of the CBN chiefs to appear before it on Wednesday. The committee also invited Managing Directors/Chief Executive Officers of the banks, under the auspices of the Bankers’ Committee to explain the alleged supply shortage from the CBN. He also noted that the committee had rescheduled the meeting to 1 pm on Thursday.

The failure of the CBN chiefs to appear before the committee had necessitated the Speaker’s threat. Gbajabiamila also told the House that the Clerk received a letter from the CBN. The letter detailed their inability to appear before the committee on Thursday.

Reports say the House had on Tuesday called on President Muhammadu Buhari to intervene in the insistence of the CBN on the tight deadline for the implementation of the cashless policy and currency swap.

NEXT:CBN insists On Deadline For Old Naira Notes, Raises Interest Rate To 17.5%