Naira swap: House committee rejects extension, threatens Emefiele’s arrest

Written by on January 30, 2023

The House of Representatives Ad hoc Committee on new naira re-design and naira swap policy has added a new twist to the controversy surrounding the deadline for the validity of old notes by rejecting the ten days extension granted by the Central Bank of Nigeria for the exchange.

The committee described the extension as a mere political gimmick to further deceive Nigerians and worsen their economic and social livelihood

The PUNCH reported that the CBN had earlier fixed January 31 as the deadline for the exchange of N200, N500 and N1000 old naira notes. But the Ad hoc Committee, chaired by the Majority Leader, House of Reps, Alhassan Doguwa, in a statement on Sunday in Abuja, rejected the extension, insisting that the CBN must comply with sections 20 sub 3, 4, and 5  of the CBN Act.


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