Gbajabiamila vows to arrest CBN govern over new naira notes scarcity

House of Representative speaker, Femi Gbajabiamila said he would not hesitate to order the arrest of Central Bank of Nigeria governor, Godwin Emefiele over the continued shortage of the new naira notes. The House had ordered Emefiele to appear before it to explain the swapping of the old naira notes to the newly designed ones, which appears to be in short supply. But the CBN governor and his lieutenants failed to show up on Wednesday. “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 said the House would postpone its adjournment for the elections hoping that the issue would be resolved. He accused the CBN governor of contravening the sector 20 of the CBN Act, adding that banks should accept the old notes way beyond the expiration deadline.