HeadlineNaira Swap: Emefiele Appears Before Reps' Committee

Naira Swap: Emefiele Appears Before Reps’ Committee


January 31, (THEWILL) – Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday, appeared before the ad hoc committee of the House of Representatives on the cashless policy and deadline for the replacement of old Naira notes.

The CBN Governor, who appeared with some of his assistants, went into a brief executive session with members of the committee

The committee, chaired by House Majority Leader, Alhassan Ado-Doguwa, is expected to interface with the apex bank officials on the the new Naira notes.

The House, on December 22, 2022, grilled the Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, over the latest policy by the apex bank, which among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.

The CBN had informed the House that Emefiele would not appear before the House in person, rather Ahmad would lead the Committee of Governors before the lawmakers.

Speaker of the House, Femi Gbajabiamila, had threatened to invoke necessarily constitutional order, to compel Emefiele to appear before the Green Chambers.


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