House Of Representatives moves to arrest Emefiele; rejects CBN’s deadline extension on old naira notes

House of Representatives committee on the recoloured naira notes says it will go ahead to sign an arrest warrant against Central Bank governor Godwin Emefiele.

In a statement, chairman of the ad-hoc committee, Alhassan Ado Doguwa, said “the 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the house, would only accept clear compliance with Section 20 sub 3, 4, and 5 of the CBN act and nothing more.

He added, “Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law. And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the ad-hoc committee.”

The chairman described the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, insisting that the CBN governor must appear before or stand the risk of being arrested on the strength of a legislative writ signed earlier by Speaker Femi Gbajabiamila.