The CBN governor, Godwin Emefiele, has at long last, honored the House of Representatives’ summons him over the confusion occasioned by the redesign of some naira notes and the exchange of old naira notes with new ones.
Emefiele will appear before the ad hoc committee set up by the House of Reps to research the crisis, which will be chaired by Majority Leader, Alhassan Ado-Doguwa.
Before this, the Speaker of the House, Femi Gbajabiamila, had been ready to issue a warrant for Emefiele’s arrest over his repeated failures to answer at least four summons from the House.
Gbajabiamila had threatened to order the Inspector-General of Police, Usman Baba, to arrest and force Emefiele’s appearance before the panel, while insisting that the deadline breached the provision of Section 20(3) of the CBN Act.
“We know the President to be a man of the people. He has given his approval based on what he had been told. But the motion is essentially saying that after the President gave his approval, how does the new money get to the people? The money is not getting to the people. That is what we have been seeking to clarify and that is exactly what we are going to do.”
