Naira Notes Swap: Gbajabiamila threatens to get Emefiele arrested

The Speaker of the House of Representatives, Femi Gbajabiamila, has threatened to issue a warrant of arrest on Godwin Emefiele, the Governor of the Central Bank of Nigeria over his failure to appear before its committee on Thursday, January 26, 2022.

The House had set up an ad-hoc committee to investigate the scarcity of the new naira notes at commercial banks.

The committee resolved to question the apex bank chiefs on the alleged supply shortage of the new naira notes from the CBN.

But on Wednesday, January 25, 2023, the committee expressed its displeasure over the failure of the management staff of the Central Bank of Nigeria to appear before it.

During the House plenary on Thursday, the Chairman of the committee, Alhassan Ado-Doguwa disclosed that after the CBN chiefs failed to appear before the committee on Wednesday, the meeting with the bank chiefs was rescheduled to 1 pm on Thursday.

But according to Gbajabiamila, the CBN had written a letter to inform the lawmakers that Emefiele would not be able to appear before the committee on Thursday.

Hence, the Speaker threatened to get Emefiele arrested, saying the House would exercise its powers as contained in Section 89 of the 1999 Constitution.

Gbajabiamila vowed to demand the Inspector-General of Police to effect Emefiele’s arrest and forceful appearance before the House.

He said instead of adjourning their plenary till February 28 for the elections as planned, the House would reconvene on Tuesday, January 31, 2023, to take action against Emefiele and other bank chiefs that failed to honour the committee’s invite.

On the January 31 deadline for old naira notes, the Speaker said the CBN Act allows the admittance of an old naira note by banks, even after it had ceased to be legal tender.