House will reconvene if scarcity persists before elections —Gbajabiamila

Speaker from People’s Representative CouncilFemi Gbajabiamila, said the House will reconvene if the lack of Naira notes remains before the February 25 presidential and national assembly elections.

Mr. Gbajabiamila stated this during a town hall meeting with several ethnic groups in Surulere, Lagos, on Sunday.

According to a statement from the media assistant, Lanre Lasisi, after the meeting, the Speaker said that the Council will continue to closely monitor the implementation of the policy.

“So, we are watching, and we are monitoring closely. If necessary, we will reconvene the DPR, even if we are all absent from the election. I will call the House again if necessary,” he said

Mr. Emefiele last week appeared before a House ad hoc committee to review the new Naira note policy.

The MP and Mr Emefiele agreed that commercial banks should accept old notes despite the February 10 deadline.

Meanwhile, across the country, there has been a lack of new records that have led to violent protests in Oyo and Edo states.

Emefiele is not above the law

Mr. Gbajabiamila also said that the CBN governor is not above the law, although the bank will be autonomous.

He told the audience that he was ready to sign a warrant of arrest if Mr. Emefiele defies the House of Representatives.

“I will sign the warrant; it will be the first time in the history of the National Assembly that the CBN governor will be arrested. I am done.

“Many are arguing about the independence of the CBN, the autonomy of the CBN. That does not make the CBN above the law. The Constitution empowers the House of Representatives to issue arrest warrants against anyone, we can summon anyone, and this is exactly what the House of Representatives will do until the CBN governor arrives, “he said.

Mr Gbajabiamila said the House had shown its determination to address the shortage of new notes.

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He also said that amid the ongoing difficulties, the APC presidential candidate, Bola Tinubu, has identified with Nigerians and blamed the implementation of the policy at this time, which required the extension of the deadline for the collection of old currency.

He noted that the candidate from People’s Democratic Party (PDP), Atiku Abubakar, supported the policy despite the hardships in Nigeria.

“So, you have the story of two presidential candidates: one who stood with the people and said that this currency exchange must stop; the second said, ‘no, it cannot be stopped, it is a good policy. CBN, do not listen to him. Let the people continue to suffer.’ I leave the rest to you to decide who is with you and who is against you,” Mr Gbajabiamila said.

The National Assembly is currently closed until February 28 to allow federal MPs to campaign for the upcoming elections.