The Speaker of the House of Representatives has threatened to issue warrants of arrest for the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and the managing director of any commercial bank that fails to honour the invitation by the House. The lawmakers and Emefiele seem to be at loggerheads over the apex bank's insistence that the January 31, 2023 deadline for phasing out old N1000, N500 and N200 naira notes stands despite the relative scarcity of the newly designed notes in circulation.
House Of Reps Speaker, Gbajabiamila Threatens To Issue Arrest Warrant Against Central Bank Gov, Emefiele, Bank MDs Over New Naira NotesThe lawmakers and Emefiele seem to be at loggerheads over the apex bank's insistence that the January 31, 2023 deadline for phasing out old N1000, N500 and N200 naira notes stands despite the relative scarcity of the newly designed notes in circulation.
The Speaker of the House of Representatives has threatened to issue warrants of arrest for the Governor of the Central Bank of Nigeria , Godwin Emefiele, and the managing director of any commercial bank that fails to honour the invitation by the House.
He has been summoned by the lawmakers to shed light on the cash withdrawal limit and deadline given to phase out the old notes but has failed to appear. Earlier, he wrote that he was ill and not in the country but since Emefiele returned to Nigeria from his recent trip abroad, he has not appeared before the lawmakers.However, Gbajabiamila on Thursday at plenary issued the threat, while reacting to a letter by Emefiele, informing the House of its inability to honour its invitation.
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