The Speaker of the House of Representatives, Femi Gbajabiamila, has threatened to issue a warrant of arrest on the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele for failing to honour its invitation in respect to the deadline of the phase-out of old 1000, 500 and 200 naira notes and scarcity of the new notes.
Gbajabiamila also threatened the managing directors of any commercial bank that fails to show up when invited.
The Quest Times reports that the CBN governor, Godwin Emefiele, had insisted that the apex bank was going ahead with the January 31 deadline, saying the 100 days allowed for the public to return the old notes to commercial or other banking agents across the country was enough time for compliance.
Emefiele had snubbed the request of the House of Representatives to appear before the lower chamber severally.
He had been summoned by the lawmakers to shed light on the cash withdrawal limit and deadline for the phase-out of the old naira notes that has been trailed by criticism among the Nigerians.
However, Gbajabiamila on Thursday at plenary issued the threat while reacting to a letter by Emefiele, informing the House of his inability to honour the invitation of the House to appear before an ad-hoc Committee set up by the House to interface with the apex bank and commercial banks on the deadline for the phase-out of the old notes.
He said instead of the House adjourning plenary till February 28 for the elections as planned, the lawmakers would reconvene on Tuesday to take an action against Emefiele and other bank chiefs who fail to show up.
The Speaker declared his readiness to issue a warrant of arrest on the Governor of the Central Bank of Nigeria if he fails to appear before its committee on Tuesday.
Gbajabiamila, who noted that Emefiele is his friend, pointed out that he would not hesitate to demand the Inspector-General of Police to effect the CBN governor’s arrest and forceful appearance before the House.
The House had set up an ad hoc committee to investigate the scarcity of the new naira notes at the Deposit Money Banks, also known as commercial banks, leading to tension over the January 31 deadline set by the CBN for the exchange of the old notes with the newly designed ones.
Chairman of the committee, Alhassan Ado-Doguwa, at the plenary on Thursday, informed the House about the non-appearance of the CBN chiefs before it on Wednesday. He noted that the committee had rescheduled the meeting to 1 pm on Thursday.
However, Gbajabiamila also informed the House that the CBN had written to the Clerk, informing the House of Emefiele’s inability to appear before the committee on Thursday.
The Speaker said the House would exercise its powers as contained in Section 89 of the 1999 Constitution. Adding that the CBN Act allows the admittance of an old naira note by banks, even after it had ceased to be legal tender.