Afrigather …majority chief’s panel reject 10 days extension, minority caucus hails extension
The Home of Representatives has been divided by the outdated naira notes controversy with these supporting and rejecting the extension of deadline for the alternate of the affected forex from January 31 to February 10.
The Central Bank of Nigeria (CBN) on Sunday prolonged the deadline for the change of outdated naira notes by 10 days to permit assortment of the outdated notes.
However in a response, the Home ad-hoc committee on naira re-design and naira swap coverage rejected extension granted by the CBN.
The adhoc committee, chaired by the chief of the Home, Alhassan Ado-Doguwa, opposed the extension, insisting that the CBN should adjust to sections 20 (3), (4), and (5) of the CBN Act.
Doguwa mentioned that: ” The ten-day extension for the alternate of the outdated naira notes is just not the answer. We as a legislative committee with a constitutional mandate of the Home, would solely settle for clear compliance with part 20 sub 3, 4, and 5 of the CBN act and nothing extra.
“Nigeria as a growing financial system and a nascent democracy should respect the precept of the rule of regulation. And the Home would go forward to signal arrest warrant to compel the CBN Governor to look earlier than the Adhoc committee.”
The bulk chief mentioned underneath his chairmanship, the Committee would proceed its work till it will get the calls for of Nigerians addressed in accordance with the legal guidelines of the land.
Describing the extension as a mere political gimmick to additional deceive Nigerians and worsen their financial and social livelihood, Doguwa mentioned the CBN governor should seem earlier than or stand the danger of being arrested on the power of legislative writs signed by the Speaker.
He additionally mentioned the coverage is able to irritating the forthcoming basic elections, noting that: “safety businesses and their operations particularly on the states stage are typically funded via money advances and direct desk funds of allowances to operatives throughout elections.”
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However, the minority caucus within the Home applauded the CBN for listening to Nigerians and lengthening the deadline for swapping of the outdated naira notes for brand spanking new ones by 10 days.
Minority chief of the Home, Ndudi Elumelu mentioned the extension is a welcome choice to ease the struggling in addition to social and financial discomfort being confronted by many Nigerians in accessing the brand new naira notes inside the earlier stipulated deadline.
“As lawmakers and representatives of the individuals, our caucus commends the CBN for being thoughtful in the direction of the wellbeing of Nigerians; which is the essence of democratic governance all around the world,” he mentioned.
The caucus applauded the presidential candidate of the Peoples Democratic Occasion (PDP) Atiku Abubakar, for his intervention in persuading President Buhari and CBN to increase the sooner deadline within the nationwide curiosity.
“His Excellency Atiku Abubakar’s patriotic intervention presently additional exhibits him as a compassionate chief who’s all the time involved and dedicated in the direction of the wellbeing of Nigerians. He has once more demonstrated his expertise, capability, and competence to get the system to work within the curiosity of Nigerians at very essential time,” he mentioned.
“Our caucus calls on Nigerians to not relaxation on their oars however to take most benefit of the ten days extension to swap their outdated naira notes for the brand new ones
“The minority caucus additionally urges the CBN to stay centered and intensify its sensitization efforts whereas placing each measure in place to help Nigerians, particularly these within the rural areas, to entry the brand new naira notes.”
