The Governor of Central Bank of Nigeria, Godwin Emefiele, has appeared before the Ad Hoc Committee of the House of Representatives looking into the new Naira notes.
Mr Emefiele appeared before the committee on Tuesday after days of grandstanding between him and the House.
Last week, the committee was left fuming after Mr Emefiele shunned invitations of the House despite the threats of arrest warrants by the lawmakers.
On Thursday, the Chairman of the Ad Hoc Committee, Alhassan Doguwa (APC, Kano), said the committee is giving Mr Emefiele the last chance to appear or risks arrest.
However, on Sunday, the CBN Governor announced the extension of the deadline by 10 days. He announced the extension after a meeting with President Muhammadu Buhari in Daura Katsina State.
Mr Emefiele announced that Nigerians have a grace period of 7 days to deposit old notes at commercial banks even after the deadline. But the lawmakers are insisting that the CBN obeys section 20 of the CBN Act.
Background
Last Week Tuesday, the House resolved to invite the CBN Governor and managing directors of commercial banks to get more explanations on the policy.
Mr Emefiele shunned the two invitations by the ad hoc committee. In a letter, Mr Emefiele claimed he was out of the country.
On Thursday, the Speaker, Femi Gbajabiamila warned that the House will trigger section 89 of the 1999 constitution by issuing a warrant of arrest on the CBN Governor.
Last year, Mr Emefiele also shunned the invitation of the House on four different occasions. The lawmakers invited the CBN boss on the cash withdrawal limit policy.
READ ALSO: CBN not working against finance ministry policies — Emefiele
Mr Emefiele was ordered to appear before the House to brief the Green Chamber on the policy. The House had to issue threats before the CBN agreed to send a representative.
At the time, he also claimed to be outside the country for medical attention.
Aisha Ahmad, a deputy governor at the CBN, later represented Mr Emefiele to brief the House.
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