The House of Representatives Ad hoc Committee on new naira re-design and naira swap policy has added a new twist to the controversy surrounding the deadline for the validity of old notes by rejecting the ten days extension granted by the Central Bank of Nigeria for the exchange.
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-section 3, 4, and 5 of the CBN Act and nothing more.
“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.” According to him, under his chairmanship, the committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land.
While describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said the CBN governor must appear before the House or stand the risk of being arrested on the strength of legislative writs to be signed by the Speaker on Monday.“Security agencies and their operations especially at the state level are generally funded through cash advances and direct table payments of allowances to operatives during elections,” he said.
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