The House of Representatives Ad hoc Committee on new naira re-design and naira swap policy has rejected the 10-day extension for the withdrawal of old 1000, 500, 200 naira notes by the Central Bank of Nigeria (CBN).
According to the committee, the extension is only a political ruse designed to further mislead Nigerians.
The Quest Times reports that the CBN had fixed January 31st as the deadline for the withdrawal of the old naira notes.
However, The CBN governor, Godwin Emefiele, on Sunday, said President Muhammadu Buhari has authorized for the deadline to be extended to February 10.
Reacting, the chairman of the Ad Hoc committee, Hon. Alhassan Ado Doguwa on Sunday rejected the extension, adding that the 10-day delay for exchanging the old naira notes is not the answer.
He said, “Only the clear compliance with Section 20 Subsections 3, 4, and 5 of the CBN Act will be accepted by us as a legislative committee with a constitutional mandate from the House.
“Nigeria must uphold the concept of the rule of law as a burgeoning economy and budding democracy. To compel the CBN Governor to appear before the Ad Hoc committee, the House would then go ahead and sign an arrest warrant.”
He stated that the committee would continue working under his leadership until the needs of Nigerians were met in conformity with the law.
The extension, according to Doguwa, “is merely a political ploy to further mislead Nigerians and worsen their economic and social well-being. The CBN governor must appear before the House or run the risk of being detained under the authority of legislative writs that the Speaker will sign on Monday.”
He added that the approach had the potential to scuttle the upcoming general election.
“Cash advances and direct table payments of allowances to operatives during elections are normally how security agencies and their operations, especially at the state level, are supported,” he said.