{"id":81238,"date":"2023-01-29T16:32:36","date_gmt":"2023-01-29T15:32:36","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest"},"modified":"2023-01-29T18:04:25","modified_gmt":"2023-01-29T17:04:25","slug":"old-naira-deadline-house-cttee-seeks-cbn-govs-arrest","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest","title":{"rendered":"Old naira deadline: House c\u2019ttee seeks CBN gov\u2019s arrest"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The House of Representatives Adhoc Committee on New Naira Re-design and Naira Swap Policy has rejected the 10-day extension of the deadline for the exchange of old naira notes granted by the Central Bank of Nigeria, CBN.<\/p>\n

The CBN had fixed January 31st as the deadline for the exchange of the old N200, N500 and N1000 notes.<\/p>\n

The CBN governor, Godwin Emefiele, however, on Sunday, said President Muhammadu Buhari gave permission for the deadline to be extended to February 10.<\/p>\n

In a swift reaction, the adhoc committee, chaired by Alhassan Ado Doguwa, rejected the extension, insisting that the CBN must comply with Section 20 subsections 3, 4, and 5 of the CBN Act.<\/p>\n

The House of Representatives, during its sitting on Tuesday, following the outcry by Nigerians, constituted the adhoc committee to look into the issue.<\/p>\n

Doguwa said: \u201d The 10-day extension for the exchange of the old naira notes is not the solution. We, as a legislative committee with a constitutional mandate of the House, would only accept clear compliance with Section 20 subsections 3, 4, and 5 of the CBN Act and nothing more.<\/p>\n

\u201d 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.\u201d<\/p>\n

He said under his chairmanship, the committee would continue its work until it gets the demands of Nigerians addressed in accordance with the laws of the land.<\/p>\n

Describing the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood, Doguwa said the CBN governor must appear before the committee or stand the risk of being arrested on the strength of legislative writs signed by the Speaker on Monday.<\/p>\n

He also said the policy is capable of frustrating the forthcoming general elections.<\/p>\n

\u201cSecurity agencies and their operations, especially at the state level, are generally funded through cash advances and direct table payments of allowances to operatives during elections,\u201d he said.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The House of Representatives Adhoc Committee on New Naira Re-design and Naira Swap Policy has rejected the 10-day extension of the deadline for the exchange of old naira notes granted by the Central Bank of Nigeria, CBN. The CBN had fixed January 31st as the deadline for the exchange of the old […]<\/p>\n","protected":false},"author":84,"featured_media":81237,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,503,254,9678],"class_list":["post-81238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-nigeria","tag-old-naira-deadline"],"yoast_head":"\nOld naira deadline: House c\u2019ttee seeks CBN gov\u2019s arrest - Nigeria<\/title>\n<meta name=\"description\" content=\"The House of Representatives Adhoc Committee on New Naira Re-design and Naira Swap Policy has rejected the 10-day extens ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Old naira deadline: House c\u2019ttee seeks CBN gov\u2019s arrest\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives Adhoc Committee on New Naira Re-design and Naira Swap Policy has rejected the 10-day extens ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-29T15:32:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-29T17:04:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/01\/postQueueImg_1674997367.35.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Old naira deadline: House c\u2019ttee seeks CBN gov\u2019s arrest\",\"datePublished\":\"2023-01-29T15:32:36+00:00\",\"dateModified\":\"2023-01-29T17:04:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\"},\"wordCount\":354,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/01\/postQueueImg_1674997367.35.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"Nigeria\",\"Old naira deadline\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/old-naira-deadline-house-cttee-seeks-cbn-govs-arrest\",\"name\":\"Old naira deadline: House c\u2019ttee seeks CBN gov\u2019s arrest - 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