Despite the Central Bank of Nigeria (CBN) extending the deadline for the use of the old notes till February 10, the House of Representatives Ad hoc Committee on new naira re-design and naira swap policy has rejected the 10-day extension.
ANN reports that the committee described the extension as a political gimmick by the CBN Governor, Godwin Emefiele, to worsen the economic and social livelihood of Nigerians.
The Committee spoke through the Majority Leader of the House of Representatives, Alhassan Doguwa.
“The 10-day extension for the exchange of the old naira notes is not the solution,” Doguwa said in a statement.
“We as a legislative committee with a constitutional mandate of the House, would only accept clear compliance with Section 20 Sub-section 3, 4, and 5 of the CBN Act and nothing more.
“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.”
