Redesigned Notes: CBN Governor Finally Appears Before House of Reps …reiterates readiness to enforce CBN Act, accept old notes after February 10 deadline

By Admin

As the hues and cries over the deadline for the swap of the old Naira notes continues , the Central Bank, CBN, Governor, Godwin Emefiele has assured of his willingness to obey the law and continue to accept the old notes even after the February 10 deadline.

CBN Governor stated this when he appeared before the Ad-hoc Committee of the House to interface and engage the lawmakers on the concerns of Nigerians over the deadline for the swap of the old Naira notes.

The Apex bank boss who arrived with his delegation at the House also commended the lawmakers and indeed the National Assembly for its support in the areas of legislation which he said has strengthened the apex bank, promising to ensure strict compliance to
section 20 (3) of Central Bank of Nigeria (CBN) Act which mandates the CBN to redeem the face value of the recalled currency upon demand, even after the expiration of the notice of recall.

Godwin Emefiele also used the opportunity to apologize for his perceived delay to appear before the House despite repeated invitations.

He explained that the invitation was given at a time when he was outside the country with President Muhammedu Buhari for another urgent national assignment.

Under his watch, CBN governor said commercial banks in the country have been working tirelessly to ensure that policies of CBN are followed to the later.

The Monetry policies, the governor explained have impacted positively on nation’s economy as well as business community and indeed all Nigerians.

CBN boss further disclosed that all the Apex Bank policies were meant to promote businesses in the country as well as create atmosphere where Naira could gain value like other Currency in the world.

In his opening remarks, the Chairman of the Ad-hoc Committee, Hon. Alhassan Ado- Dogwua informed the delegation from CBN that lawmakers in his committee are representing Nigerians, hence the need for them to meet and interface for the common good of Nigerians.

Hon.Ado-Dogwua also informed that CBN has the constitutional powers to redesign currency for the country.

He. However revealed that his committee was not investigative in nature stating that they invited CBN to hear from them under moral obligations