The National Assembly on Tuesday, January 31, dropped its earlier threat of arrest against Central Bank Governor Godwin Emefiele, and gave the apex bank chief a thumbs-up for what has been a controversial Naira redesign policy.
Speaking when Emefiele appeared in the House of Representatives, the Chairman of the special ad-hoc committee, Honourable Ado Doguwa, expressed the support of the National Assembly for the cashless policy of the CBN, stressing that the House would assist the CBN in achieving its mandate in that regard.
Hon. Doguwa welcomed the submission of the CBN Governor and stressed the need for more collaboration.
Speaking earlier, Emefiele assured the lawmakers that no Nigerian will lose money under the Naira redesign project, adding that the project is in the overall interest of Nigerians and the economy.
Emefiele gave the assurance during a meeting with the ad-hoc committee on the review of the bank’s cashless policy and extension of the timeframe of the currency swap programme of the bank on Tuesday, January 31, 2023.
He added that subject to the provision of Section 20(3) of the CBN Act, Nigerians would be given the opportunity to redeem the face value of the Naira in their possession after the currency would have lost its legal tender status on February 10, 2023.
“Nigerians will not lose their money,” he declared, just as he sought the cooperation of the National Assembly to ensure the success of the programme.
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While reeling out the steps taken by the bank to ensure the effective distribution of the new banknotes, he disclosed that about N1.9 trillion had so far been collected since the commencement of the exercise.