Headline National News

Reps to reconvene if naira notes hardship persist

The Speaker of the House of Representatives, Femi Gbajabiamila says the House will have no option but to reconvene before the February 25 elections if the Central Bank of Nigeria (CBN) fails to address the hardships caused by the currency swap policy.

Speaking during a town hall meeting with some ethnic groups in Surulere, Lagos, Mr Gbajabiamila said he was on the verge of signing an arrest warrant against CBN Governor, Godwin Emefiele, following his initial failure to appear before an ad hoc panel of the House.

The speaker said the House would continue to monitor the CBN’s implementation of the policy closely following the Green Chamber’s meeting with Mr Emefiele on the issue.

“The House of Representatives intervened on several occasions; we summoned the CBN governor the first time and again, but he refused to answer, because we had many hard questions for him,” Mr Gbajabiyamila recounted.

“It was until I issued the threat of warrant of arrest before he came, and I would’ve signed that warrant; it would’ve been the first time in the history of National Assembly that a CBN governor would be arreste,” he said. “I would’ve done it.”

He continued: “On the currency swap, let me explain something to you. We are all very intelligent people. Many are suffering, we have paid your salary, and you cannot withdraw it; people cannot eat, what kind of thing is that?”

Mr Gbajabiamila added that amidst the hardship facing Nigerians, the APC Presidential candidate, Bola Tinubu identified with ordinary people and faulted the implementation of the policy “at this time”, which brought about the extension of the deadline for the collection of the old currency.

Writing by Ibrahim Shehu; Editing by Chinasa Ossai, Abdullahi Lamino and Tony Okerafor