The governors Central Bank of NigeriaGodwin Emefiele has appeared before the Ad Hoc Committee of the House of Representatives examining the new Naira notes.
Mr. Emefiele appeared before the committee on Tuesday, he was between it and the House for days.
Last week, the committee came under fire after Mr. Emefiele turned down invitations from the House despite threats of arrest warrants by lawmakers.
On Thursday, the chairman of the Ad Hoc Committee, Alhassan Doguwa (APC, Kano), said the committee is giving Mr. Emefiele a last chance to appear or risk arrest.
However, on Sunday, the CBN governor announced a 10-day extension of the deadline. He announced the extension after a meeting with President Muhammadu Buhari in Daura Katsina state.
Mr. Emefiele announced that Nigerians have a grace period of 7 days to keep their old notes in commercial banks even after the deadline. But the lawmakers are insisting that the CBN complies with Section 20 of the CBN Act.
Background
On Tuesday last week, the House decided to invite the CBN governor and the managing directors of commercial banks for further clarification on the policy.
Mr. Emefiele declined both invitations from the ad hoc committee. In a letter, Mr. Emefiele said he was out of the country.
On Thursday, Speaker Femi Gbajabiamila warned that the Chamber will do so trigger Section 89 of the 1999 constitution ordering the arrest of the CBN governor.
Last year, Mr. Emefiele also declined the House’s invitation on four separate occasions. The lawmakers invited the CBN boss on the cash withdrawal limit policy.
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Mr. Emefiele was ordered to appear before the House to brief the Green House on the policy. The House had to make threats before the CBN agreed to send a representative.
At the time, he also said he was out of the country seeking medical attention.
Aisha Ahmad, the Deputy Governor of the CBN, later replaced Mr. Emefiele for the House.
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