Reps Calls CBN to Reverse Policy, Says it endangers and Threatens Nigerians and the Economy
Following the refusal of the Central Bank of Nigeria to extend the deadline for the discontinuation of the old N1000, N500, and N200, the House of Representatives on Thursday frowned and says it would not allow anyone nor the Central Bank of Nigeria (CBN) to thwart the Country’s economic and endanger the lives of Nigerians.
Angry with the CBN officials who refused to honor the Committee’s invitation, Hassan Ado-Doguwa, the chairman of an ad-hoc committee says that the House expected them but they refused to show up, he added that the House is still expecting them to honor their invitation and appear before the House of Representatives so that some issues can be iron out.
According to the law Maker, the Central Bank of Nigeria’s Policy on the discontinuation of old naira notes effective 31st January, would destroy many petty businesses, especially in the rural areas, and also shut down several businesses and agriculture.
Hassan noted that some families have refused to accept the old naira notes as bride price even when the new re-designed naira notes are not fully circulated across the Country.
After engaging the officials of the Central Bank of Nigeria, Bank operators would also be invited by the House of Representatives.
Ado-Doguwa stated that Law Makers have the constitutional right to call any government official and probe them for the general public’s interest.
The policy of the Central Bank of Nigeria has threatened the survival of Nigerians and the economy of the country, therefore, the Law Maker pinpointed that the House of Representatives does not act in their personal capacity, and they can not fold their hands and watch the Central Bank of Nigeria endangering and threatening Nigerians and the economy with their inconsiderate policy.
He, therefore, added that any unfavorable policy can be reversed as long as the policy being reversed would be in best interest of the people of Nigeria.
