Naira deadline probe: We will not allow anybody to endanger our economy – Doguwa vows

By Christiana Ekpa 

The House of Representatives Ad-hoc mandated to intervene in the deadline set by the Central Bank of Nigeria (CBN) for the exchange of old naira notes for the redesigned, has warned the apex bank against failing to appear before it this afternoon, even as he vowed that the Green Chamber would not all owed any body to endanger Nigeria economy.

The CBN had  set a January 31, 2023 deadline for the old N200, N500 and N1,000 currency notes to cease to be legal tender in the country, prompting a public outcry as the date draws to a close.

The committee which was set up on Tuesday under the chairmanship of the Majority Leader, Hon. Alhassan Ado Doguwa, had invited the CBN management for a meeting over the concerns and the possibility of extension on Tuesday, and chief executives of commercial banks for Thursday, but the apex bank explained that it got the communication late, and so could not act on it.

“Based on the communication I just received from the CBN, our own communication got to the CBN very very late, so the liaison officer spoke to us, saying they are not able to act on the letter, so we’ve conceded to allow them come tomorrow (Thursday) at 1pm”, Doguwa said.

The lawmaker warned however that on no account should the CBN team not appear before the panel as rescheduled, especially that the matter in question was capable of negatively affecting the Nigerian economy.

He also faulted the reported “no going back” stance of the CBN Governor, Mr. Godwin Emefiele, saying policies must be implemented in the interest of Nigerians.

“Any policy that the government is making, Nigerians must know. There is no policy that cannot be reversed. This bothers on the survival of the economy, and it is a serious issue of public interest. I hope they will respect this institution of democracy, and representative of the people”, he submitted.

The committee is expected to engage the bank CEOs immediately after meeting with the CBN team.

“We would also not allow anybody to endanger our economy. CBN must appear before this communication of the House of Representatives tomorrow by 1pm to discuss this very critical matter. it borders on the survival of our economy and our people. the businesses are shut down all over. agriculture is suffering. petty businesses in the villages are also suffering. I understand that in …..place that even dowry, bride price is not being accepted. so this is a serious issue.

“You can all agree with me that the resolution was taken at the end of our sitting yesterday 24 January 2023 and before we could finish necessary procedures, the letters were signed into the CBN late. so the liaison officer of the bank spoke to us this evening that they were not able to really act on the letter to allow for their engagement today. on this note I would like to convey to this committee and members of the public and the press here with us that we have conceded to allow the CBN officials to come tomorrow by 1pm. so that we would engage them and immediately after the engagement with them we would engage the bank operators.

“For the purposes of clarification, I want to say without any fear of contradiction that the parliament is always an institution that represents the Nigerian people. when there is any need it cause for an invitation to any government employee, like it is the case here with the CBN, the governor of the CBN, his directors, deputy directors, all departmental heads, I believe our own employees of the Nigerian people, and when there is a kind of summon from the institution of the parliament like this, we expect every up and doing employee to only respect that invitation. and on this note.

“I want to say on behalf of the House of Representatives that we have taken this from the point of perhaps giving them the leverage or benefit of doubt that yes, the letter got to them late yesterday. and on no account, I repeat, we would have a repeat of this failure tomorrow. none of us here is acting in his personal capacity. none of us here is acting for any personal reasons. especially on a matter like this where Nigerian people and economy is threatened by a lot of dangers by the policy of a government department. those of here working who are working for the Nigerian people, we cannot sit down here and watch policies of government that are not unpopular, they are threatening the survival of our economy to continue. I hear some of them saying it is a matter they have decided. “