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CBN Governor Finally Appears Before Reps Over New Naira
Nigeria’s Central Bank Governor, Godwin Emefiele, has appeared before the House of Representatives after being summoned to address the issue with the recent naira note redesign and exchange.
Emefiele is meeting with the ad hoc committee established by the House, led by Majority Leader Alhassan Ado-Doguwa, to investigate the crisis.
Speaker of the House, Femi Gbajabiamila, had threatened to arrest Emefiele for failing to attend 4 previous summons. The House postponed its break for the presidential and National Assembly elections, set to start Thursday, due to Emefiele’s failure to appear before the committee.
Speaker Gbajabiamila threatened to instruct the Inspector-General of Police, Usman Baba, to arrest Emefiele and bring him before the panel. Gbajabiamila maintained that Emefiele’s missed deadline violated Section 20(3) of the CBN Act.
The Speaker partly said, “I have no choice now. On Tuesday when we resume, we will invoke the provisions of Section 89 of the Constitution .The President has been very clear. The President gave the approval based on what he knows and what he has been told.
“We also know the President to be a man of the people. He gave his approval based on what he had been told. But we are saying – what the motion is saying – is that after the President gave his approval, how does the money get to the people? The money is not getting to the people. That is what we sought to clarify and that is exactly what we are going to do.
“So, on Tuesday, this House will follow its procedure – the normal procedure – and invoke the provisions of Section 89 to compel the governor of the CBN and the directors.”
Deputy Speaker Ahmed Wase called on the House to allow its leadership to meet with President Buhari and discuss the controversial implementation of the policy. Speaker Gbajabiamila agreed to this request.
Despite the CBN extending the deadline for exchanging old N1,000, N500, and N200 notes by 10 days to Feb 10 and giving commercial banks an additional 7 days to accept the notes, the House still insisted on Emefiele’s appearance.
In a statement, Ado-Doguwa, titled “Old Naira Notes: House Committee Rejects CBN Extension, Says Position of Law sacrosanct, Must be Respected,” insisted that the Central Bank must abide by Sections 20(3), (4), and (5) of the CBN Act.
“Nigeria, as a developing economy and a nascent democracy, must respect the principles of the rule of law. And the House would go ahead to sign the arrest warrant to compel the CBN governor to appear before the ad hoc committee,” the Majority Leader stated.
Despite previously failing to answer summons 4 times in 2 months, Emefiele led the CBN leadership to appear before the lawmakers on Tuesday.
Peter Obi, the Labour Party’s (LP) presidential candidate in the 2023 general election, has urged party members to stand strong and united as Nigeria faces a crisis.
Speaking at the ongoing National Executive Council (NEC) meeting in Abuja, Obi highlighted the urgent need for national rescue, calling attention to the country’s ongoing struggles.
Obi did not mince words about the state of the nation, stressing that Nigeria is heading towards collapse.
READ MORE: Peter Obi In High-Level Meeting With Gov Bala Mohammed
He encouraged party members to speak up, no matter the opposition they may face.
“Do not fear anybody. Those who were afraid yesterday didn’t do any better,” Obi told the gathered party members. “We must speak out when things are going wrong. Nigeria is collapsing. The numbers are clear; the indices are clear—people are getting poorer every day.”
The former governor of Anambra State also stressed the importance of party unity and inclusiveness. He made it clear that the Labour Party’s direction is about collective choice, not individual preferences.
“Labour Party has chosen to be a family, and we must do everything as a family. It’s not about Peter Obi’s choice; it’s everyone’s choice. This family excludes no one. We want to build a party that is fair and just,” he said.
Looking forward, Obi outlined the party’s vision for the upcoming elections, emphasizing the need for preparation and a focus on selecting the most competent candidates for all political offices.
“We want to go into the next election fully prepared, offering Nigerians the best and most competent candidates for the House of Representatives, the Senate, Governorships, and the Presidency,” Obi stated.
He also called for a stricter focus on loyalty and competence from anyone seeking to run under the Labour Party banner. Obi noted that only committed party members with the necessary capabilities should be considered as candidates.
“We want to correct the mistakes we made in the past. Anyone seeking to contest under our party must be a committed member, not just someone passing through. They must be competent,” he said.
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Read Also: On SYNLAB Nigeria’s Secured Patient Portal, Test Result Delivery’s Safe Alternative
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Read Also: Celebrating 20 Years of Excellence: SYNLAB Nigeria’s Journey in Diagnostics Care
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Human rights activist Omoyele Sowore and several legal practitioners on Monday escorted a Lagos-based National Youth Service Corps (NYSC) member, Ushie Uguamaye, popularly known as Raye, to the office of her Local Government Inspector (LGI) after she was summoned for a viral video criticizing President Bola Tinubu’s administration.
Raye had gained widespread attention after posting a video on her TikTok account, #talktoraye, in which she lamented the country’s worsening economic crisis and blamed President Tinubu for the hardship faced by Nigerians.
She further described the president as a “terrible leader.”
READ ALSO: You Have No Right To Stop Me – Sowore Battles Police, EFCC At Court Entrance
In a subsequent video, Raye claimed that NYSC officials had begun to threaten her following her public outbursts.
She was then summoned to appear at the NYSC office in Eti-Osa, Lagos, for questioning on Monday.
However, Sowore, alongside legal practitioners including Festus Ogun, Yinka Oyesomi, and Justice Ojienoh, accompanied Raye to the NYSC office in a show of solidarity.
According to an update shared by Sowore on his official X handle, the NYSC officials failed to show up for the meeting.
“We arrived at the Eti-Osa LGI offices of the @officialnyscng with youth corper, Ushie Rita Uguamaye, in Lagos. She was scheduled to appear before the LGI today, and we escorted her to their offices with attorneys.
@mrfestusogun, @yinka_oyesomi, and @justiceojienoh, but the LGI official had absconded, failing to show up throughout our stay,” Sowore posted.
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