The Nigerian House of Representatives has rejected the decision extension of the naira swap deadline by 10 days despite the approval of President Muhammadu Buhari.
Recall that the CBN governor, Godwin Emefiele on Sunday said Buhari gave permission for the deadline to be extended to February 10.
But in a swift reaction, the chairman of the adhoc committee mandated to interface with the CBN bank and commercial banks on the naira chaos, Alhassan Doguwa, rejected the extension, insisting that the CBN must comply with Sections 20 sub 3, 4, and 5 of the CBN Act.
The House, during its sitting on Tuesday, following the outcry by Nigerians, constituted the ad hoc committee to look into the issue.
Doguwa, in a statement he personally signed on Sunday, said that “The 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the house, would only accept clear compliance with Section 20 sub 3, 4, and 5 of the CBN Act, and nothing more.
The House, during its sitting on Tuesday, following the outcry by Nigerians, constituted the ad hoc committee to look into the issue.
Doguwa, in a statement he personally signed on Sunday, said that “The 10-day extension for the exchange of the old naira notes is not the solution: We as a legislative committee with a constitutional mandate of the house, would only accept clear compliance with Section 20 sub 3, 4, and 5 of the CBN Act, and nothing more.
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