During plenary on Tuesday, the Speaker of the House of Representatives, Femi Gbajabiamila, is scheduled to sign the warrant of arrest against the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
During an interview with Newsmen, Benjamin Kalu, Chairman of the House Committee on Media and Public Affairs, verified the development.
Kalu stated that the majority leader of the House of Representatives, Alhassan Ado-Doguwa, met with President Muhammadu Buhari and briefed him on the necessity for Emefiele to come before the House of Representatives regarding the new cash withdrawal restriction and cash exchange policy.
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He went on to say that Emefiele had always acted without informing Parliament of the policies he had outlined.
According to Kalu, it became critical to compel him to brief Parliament in accordance with Section 8 subsection 4 of the CBN Act.
He said: “At the last sitting, there was a resolution by the House that the Speaker will sign a warrant of arrest for the Inspector General of Police to compel the appearance of the CBN Governor if there’s no communication from CBN either directly by the CBN Governor or anybody designate to do that.
“As of the close of work today, there is none of those communications, has been received. And since its ruling of the House, the speaker is bound to sign that warrant of arrest by tomorrow (Tuesday), unless there is any intervention between this night and tomorrow.
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“The Leader of the House who’s the Chairman of this Ad-hoc Committee on change of naira notes is also insisting that the extension by 10 days is not sufficient and has nothing to do with the invitation. It is in line with the CBN Act that they should first comply with the invitation and convince the House on why they are amending the policy at this critical moment and why the House was not contacted this while.”
Kalu noted that the CBN Governor is expected to appear before the Ad-hoc Committee.
Speaking on the view of some CBN staff that the CBN is not under obligation to answerable to the Parliament before implementing any of its policies, Kalu said, “No particular Institution of any arm of Government is empowered by the Establishment Act to be greater than the Parliament because its the Parliament that makes the law. And when you look at the CBN Act, Section 8 subsection 4, has that the Parliament has to be briefed on major policies and it has to be done periodically.
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“But since this CBN Governor has come into place, in the 9th Assembly he has never had a periodic briefing on any of his activities. So. That is the position of the law.
“We can’t watch the situation as it is without invoking the provisions of the law and asking the respected Agency to comply with the law of the land.”
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