Emefiele Finally Appears Before House of Reps Today

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has appeared before the House of Representatives today.

Emefiele fibally appeared before the ad hoc committee of the House on Tuesday to discuss the cashless policy and deadline for the replacement of old currency notes.

He is appearing before the ad hoc committee set up by the House to investigate the crisis, which is chaired by Majority Leader, Alhassan Ado-Doguwa.

In an earlier report, Economic Confidential reported that the Speaker of the House of Representatives, Femi Gbajabiamila, had declared a warrant of arrest would be issued against Godwin Emefiele if he failed to appear before the committee.

Also Read: Just In: Naira Notes Deadline: Gbajabiamila Threatens to Arrest Emefiele

The House threatened to invoke the provisions of section 89(1)(d) of the Constitution by issuing a warrant of arrest today to compel him to appear.

Emefiele, who was supposed to appear before the Committee last week, failed to do stating he was out of the country with President Muhammadu Buhari.

The House had set up an ad hoc committee to investigate the scarcity of the new naira at the Deposit Money Banks, also known as commercial banks, leading to tension over the January 31 deadline for the exchange of the old notes with the newly designed ones among other reasons.

Though the CBN, on Sunday, extended the deadline on the expiration of the old N1,000, N500 and N200 noted by 10 days – from January 31 to February 10, with the Deposit Money Banks (commercial banks) allowed to accept the notes by seven days more, the House had insisted on Emefiele’s appearance.

Emefiele who appeared with some of his assistants, went into a brief Executive session with members of the committee.

Details Later..