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The Nigeria House of Representatives summoned banks in response to the scarcity of new naira notes.

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The Nigeria House of Representatives summoned banks in response to the scarcity of new naira notes.

The House of Representatives on Tuesday decided to invite depository banks, also known as commercial banks, on Wednesday due to the scarcity of new naira notes.

 

The executives/executives of the banks, under the auspices of the bankers committee, will meet a special committee of the House of Representatives chaired by the majority leader, Alhassan Ado-Doguwa. .

 

The House of Representatives on Tuesday decided that banks should be asked to explain the alleged supply shortage by the Central Bank of Nigeria, after which lawmakers will invite the apex bank’s management to interrogation.

 

The Chamber also decided that the period for exchanging old currency for new currency would be extended by six months.

 

This resolution follows the unanimous adoption of a motion of urgent public importance put forward by Sara Soli, Member of the House of Representatives of Katsina State, at the opening of the session. Soli noted that CBN insisted on the January 31st validity period for the new N1,000, N500 and N200 notes even though Nigerians have limited access to them.

 

PUNCH reported on Monday that eight days before the January 31 deadline, ATMs at banks in Lagos, Abuja and other parts of the country were still distributing old banknotes.

 

 

Despite assurances from CBN and custodian banks that Nigerians will start receiving new naira bills from ATMs on various platforms, Sunday’s discovery showed that many ATMs are owned by of financial institutions that are distributing old banknotes.

 

The House of Representatives convened CBN Governor Godwin Emefiele in December on the latest apex bank policy that, among other things, places limits on cash withdrawals from banks and other financial institutions. .

 

After Emefiele twice failed to appear before the House of Commons, the lawmakers instead sued the Deputy Governor, Financial System Stabilisation, Central Bank of Nigeria, Aisha Ahmad, who headed the previous Governors Committee. lawmakers.

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#Nigeria #House #Representatives #summoned #banks #response #scarcity #naira #notesThe Nigeria House of Representatives summoned banks in response to the scarcity of new naira notes. Publish on 2023-01-24 13:49:29



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