January 26, 2023

The House of Representatives has threatened to issue a warrant of arrest on the Central Bank of Nigeria (CBN) and bank directors over their collective failure to honour invitation to appear before it over scarcity of the three redesigned naira notes.

In a statement on Thursday, the Speaker of the House, Femi Gbajabiamila, said the CBN and the bank chiefs, by shunning the invitation of the House, insulted the authority and prerogatives of the people’s parliament.

Recall that the House had summoned the CBN and bank directors over the January 31, 2023 deadline for the validity of old N200, N500 and N1,000 notes.

On Tuesday, the house set up an ad hoc committee chaired by Alhassan Doguwa, majority leader of the house to meet managing directors of banks and CBN over the deadline for the withdrawal of old naira notes from circulation.

The CBN has however continued to insist on the availability of the new currencies.