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Reps Threaten To Issue Arrest Warrant On Emefiele, Bank Chiefs Over Scarcity Of Naira Notes



The Speaker of the House of Representatives, Femi Gbajabiamila has threatened 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 invitation extended to them by the green chamber.

The invitation became necessary over the January 31, 2023 deadline for the validity of old N200, N500 and N1,000 notes by the CBN.

Describing their decision to ignore the green chamber, Gbajabiamila, in a statement on Thursday, said the bank chiefs, insulted the authority and prerogatives of the people’s parliament.

Although the warrant did not specifically mention Emefiele, but the speaker noted that the warrant to be issued would be against the CBN and bank directors.

The Speaker said, “The Resolution of the House was predicated on information showing that the rollout of the redesigned naira notes has been an unmitigated failure. This failure has real and dire consequences on the ability of Nigerians to conduct business across the country.

“The refusal by the CBN to heed the invitation by the House of Representatives is evidence of a blatant disregard for the well-being of the Nigerian people who are their customers. It is also an insult to the authority and prerogatives of the people’s parliament.

“Therefore, 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.”