Emefiele To Appear Before Reps Soon - CBN

Godwin Emefiele, the Governor of the Central Bank of Nigeria, recently failed to appear before the House of Representatives.

He failed to appear before the House of Representatives, on Thursday, over the latest by the apex bank policy which, among others, sets limits to cash withdrawals at the Deposit Money Banks and other financial institutions.

The Deputy Governor, Corporate Services, CBN, Edward Adamu, in a communication to the House, told the lawmakers that Emefiele was part of the entourage of the President, Major General Muhammadu Buhari (retd.), on an official trip to the United States.

Deputy Speaker of the House, Ahmed Wase, read out the letter to members at the opening of plenary on Thursday.

Adamu said the CBN governor would appear before the House to defend the policy “at the earliest time possible.”

The House had on Thursday last week summoned Emefiele to come and explain the policy to the parliament, considering a joint session with the Senate to grill the CBN governor.

The resolutions were based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, while another member, Ibrahim Olanrewaju, raised a point of order urging the chamber to demand suspension of the policy until the lawmakers conclude their investigation, a prayer that was unanimously granted.

Olanrewaju had noted that Emefiele’s appearance today might fail and the lawmakers were billed to go on break, while enforcement of the CBN policy was to commence on January 9, 2023 – before their resumption next year.