New naira policy: Finally, Emefiele bows to pressure, appears before Reps

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has finally caved into pressure and is scheduled to appear in person before the House of Representatives Ad-hoc Committee investigating the new cash withdrawal limit and cash swap policy.

The House had threatened to use Section 89(1)(d) of the Constitution to compel him to appear by issuing an arrest warrant today.

Emefiele was seen at the National Assembly complex with a top CBN management team.

Following his appearance in response to the summons, the House is expected to reverse its resolution to issue an arrest warrant through the Inspector General of Police (IGP), Alkali Baba, to compel the CBN Governor’s appearance.

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