House of Representatives Adhoc Committee on new naira re-design and currency swap policy has rejected the ten days extension granted by the Central Bank of Nigeria (CBN) for the exchange of old naira notes.
Chairman of the Committee and leader of the house Alhassan Ado-Doguwa, announced the rejection in a statement issued to newsmen in Abuja.
Alhassan Ado Doguwa, who emphasized the house resolve on the rejection of the 10 day extension for the currency swap said the committee would only accept clear compliance with section 20 sub 3, 4, and 5 of the CBN act and nothing more.
“Nigeria as a developing economy and a nascent democracy must respect the principle of the rule of law. And the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee.”
The committee Chairman who Described the extension as a mere political gimmick to deceive Nigerians and worsen their economic and social livelihood, confirmed that the committee would not leave any stone on turn until it gets the demands of Nigerians addressed in accordance with the laws of the land.
He maintained that if allowed unchecked the policy is can frustrate the forthcoming general elections as Security agencies and their operations especially at the states level are generally funded through cash advances and direct table payments of allowances to operatives during elections.
SALIHU TSIBIRI
