The Speaker for the House of Representatives Hon. Femi Gbajabiamila has threatened to issue a warrant of arrest to compel the Inspector General of Police to arrest the Governor of the Central Bank of Nigeria, (CBN) Godwin Emefiele and Managing Director of banks for failure to respond to the summons by the House of Representatives on implementation of the new naira note.
The threat followed a brief by the House Leader, Hon. Alhassan Doguwa, that the CBN and Bank Managing Directors had failed to show up to the committee as invited, to unravel the circulation of currency design.
He said “Therefore, I will, pursuant to the authority conferred by Section 89 (1)(d) of the Constitution of the Federal Republic of Nigeria and Order 19 (2)(1) of the Standing Orders of the House of Representatives, not hestitate to issue a warrant to the Inspector General of the Nigeria Police Force to compel the attendance of the CBN or Managing Directors who fail, refuse or neglect to respond to the summons by the House of Representatives”.
The speaker also said that “the House of Representatives recognises the Central Bank of Nigeria’s (CBN) authority to determine the country’s legal tender and to recall currency with reasonable notice, subject to the approval of the President. The House is also aware that Section 20 (3) Central Bank of Nigeria (CBN) Act mandates the CBN to redeem the face value of the recalled currency upon demand, even after the expiration of the notice of recall”.
He added that notwithstanding the deadline imposed by the Central Bank of Nigeria (CBN), the House will see to it that this provision of the law is honoured in full.
Olusola Akintonde
