Old Naira Notes: Lawmakers Threaten to Arrest CBN Gov, Bank CEOs * Vow to invoke CBN Act to review deadline Udora Orizu in Abuja Members of the House of Representatives have threatened to invoke the relevant sec
Members of the House of Representatives have threatened to invoke the relevant sections of the law to issue a warrant of arrest on the Governor of the Central Bank of Nigeria , Mr. Godwin Emefiele, and the chief executive officers of other banks should they refuse to appear before its ad hoc committee on the withdrawal of old naira notes.
However, on the scheduled date, Ado-Doguwa told the members of the committee that a communication received from the CBN liaison officer stated that due to the late arrival of the letter, the bureaucracy could not work on it. Threatening that he will contact the Inspector General of Police to issue the arrest warrant, Gbajabiamila noted that the CBN Act mandates the bank to redeem the face value of the recalled currency upon demand, even after the expiration of the notice of recall.
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