The Minority Caucus in the House of Representatives has applauded the Central Bank of Nigeria (CBN) for listening to Nigerians and extending the deadline for swapping of the old naira notes for new ones by 10 days.
“The 10 days extension of deadline from January 31, 2023 to February 10, 2023 is a welcome decision to ease the suffering as well as social and economic discomfort being faced by many Nigerians in accessing the new naira notes within the earlier stipulated deadline”, the Caucus said.
As lawmakers and representatives of the people, the caucus commends the CBN for being considerate towards the wellbeing of Nigerians; which is the essence of democratic governance all over the world.
The Minority Caucus also applauds the Presidential Candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, for his intervention in persuading President Muhammadu Buhari and the CBN to extend the earlier deadline in the national interest.
It added that Atiku Abubakar’s patriotic intervention at this time further showed him as a compassionate leader who is always concerned and committed towards the wellbeing of Nigerians.
Old Naira Notes: Reps’ Committee rejects CBN extension, says position of law sacrosanct, must be respected
The House of Representatives’ Adhoc Committee on new naira re-design and naira swap policy has rejected the ten days extension granted by the Central Bank of Nigeria for the exchange of old naira notes.
The CBN had fixed January 31st as the deadline for the exchange of the old N200, N500 and N1000 naira notes.
The CBN governor, Godwin Emefiele on Sunday, said President Muhammadu Buhari gave permission for the deadline to be extended to February 10.
In a swift reaction, the Adhoc Committee, chaired by House leader, Alhassan Ado- Doguwa, rejected the extension, insisting that the CBN must comply with sections 20 sub 3, 4, and 5 of its Act.
Recall that the House, during its sitting last Tuesday, following the outcry by Nigerians, constituted the ad hoc committee to look into the issue.
The committee 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, will only accept clear compliance with section 20 sub 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 Adhoc committee.”
He said 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.
Alhassan Ado-Doguwa described the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood.
The House had given the CBN Governor, Godwin Emefiele, up to Tuesday to come before it or risk being compelled to do so through a warrant of arrest.
AREWA YOUTH GROUP CALLS FOR EMEFIELE’S SACK OVER CURRENCY SWAP CHAOS, OTHERS
Arewa Youth for Development and National Unity has called for immediate sack of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele over the Naira redesign policy.
According to them, Mr Emefiele’s insistence on the 31st January deadline for old Naira notes, has shown that he is a saboteur of the President Muhammadu’s government.
The group stated this while addressed pressmen at the Arewa house in Kaduna on Saturday.
Reactions have continued to trail the CBN Governor Naira design policy and his insistence on the 31 January deadline for the expiration of old Naira notes.
The latest from Northern Nigeria comes from the Arewa Youth for Development and National Unity who are now demanding for Me Emefiele’s immediate sack.
The group accuse the Central Bank Governor of politicizing the Naira redesign policy and working for opposition political parties at the detriment of the ruling government and Nigerian masses.
The haste and intransigence of Emefiele to stick to January 31st deadline, also comes under scrutiny.
They are concerned that, a large population of Nigerians, particularly in rural areas in the north will be broken by the policy which they consider harsh, unrealistic and unworkable.
They also frown at , Emefiele disregard for calls including the National Assembly and other elders to relax the deadline.
They say up till this weekend, most commercial banks are still dispensing the old notes, confirming their apprehension that the deadline is not feasible.
The group also laments difficulty faced by citizen in accessing the new currency notes.
They insist that unless sacked mr Emefiele’s policy has the capacity to bury the nation and subject more Nigerian to undue hardship.
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