Minority caucus lauds CBN for yielding to the call of Nigerians .
Minority caucus lauds CBN for yielding to the call of Nigerians .

The Minority Caucus in the House of Representatives on has applauded the Central Bank of Nigeria (CBN) for yielding to the call of   Nigerians to extend deadline for the  swapping naira notes  by ten days.

The Minority Leader Caucus in the House, Hon. Ndudi Elumelu, in a statement made available to journalists while describing the decision of the CBN as a welcomed development , tasked the apex bank on the need to put necessary measures in place, particulally in the area of sensitization to assist Nigerians,especially those in the rural areas, to access the new naira notes.

He also called on Nigerians not to rest on their oars but to take maximum advantage of the 10 days extension to swap their old naira notes for the new ones .

Meanwhile the House Adhoc Committee investigating the new currency swap has rejected the 10 days extension of old notes, insisting that the CBN must comply with the provisions of the law.

Chairman of the Adhoc Committee and Leader of the House,Hon Ado Dogua said the 10-day extension for the exchange of the old naira notes is not the solution,saying that the house, would only accept clear compliance with section 20 sub 3, 4, and 5  of the CBN act .

He said that the House would go ahead to sign arrest warrant to compel the CBN Governor to appear before the Adhoc committee assuring that the Adhoc would continue to work until the demands of Nigerians met in accordance with the CBN Act.

 Doguwa insisted that the CBN governor must appear before the committee or stand the risk of being arrested on the strength of legislative writs signed that would be signed by the Speaker on Monday.

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