Reps fume over scarcity of new Naira notes, summon banks’ CEOs


Jolted by reports of shortage of the new Naira notes in circulation, the House of Representatives, at Tuesday’s plenary, resolved to meet with the Chief Executive Officers, CEOs, of commercial banks tomorrow.

The meeting is essentially to ascertain the true position of things on the availability of the new Naira notes, which the Central Bank of Nigeria, CBN, said were available.

This is coming six days to the January 31 deadline issued by the CBN to end the validity of the old notes.

To this end, the House set up an ad hoc committee chaired by the leader of the House, Ado Doguwa, to meet with the stakeholders.

The resolution followed the consideration and adoption of a motion moved by Sada Soli under matters of urgent public importance.

The House also urged the CBN to extend the deadline on the use of the old notes to 6 months.


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