Femi Gbajabiamila Laments Over Naira Hardship

The speaker of the House of Representatives, Femi Gbajabiamila, has expressed concerns over the hardships that Nigerians are facing due to the currency swap policy implemented by the Central Bank of Nigeria (CBN).

Gbajabiamila noted that if the CBN fails to address these difficulties, the Green Chamber may be forced to reconvene before the upcoming presidential and National Assembly elections on February 25.

The statement issued by the Speaker’s special adviser on media and publicity, Lanre Lasisi, indicated that Gbajabiamila made these comments during a town hall meeting with ethnic groups in Surulere, Lagos.

The Speaker emphasized that the House would continue to closely monitor the CBN’s implementation of the policy and take necessary actions if required.

Godwin Emefiele, the governor of the CBN, appeared before the House’s Ad Hoc Committee on the Central Bank of Nigeria’s Cashless Policy and Extend the Timeframe of the Currency Swap last week.

During his appearance, he assured Nigerians that the naira would get stronger with the implementation of the policy and that even if the old currency lost its legal tender status, the CBN would provide an opportunity for individuals to redeem their money either by paying it into their bank accounts or exchanging it.

The Speaker of the House of Representatives noted that he had been on the verge of issuing a warrant for Emefiele’s arrest due to the governor’s initial failure to appear before the ad hoc panel.

Gbajabiamila emphasized that the Constitution gives the House the power to issue arrest warrants and summon anyone and that the CBN is not above the law.

The Speaker also stated that if necessary, he would reconvene the House, even though members have been away for their elections, to address the ongoing hardship in the country.

The Speaker also mentioned that the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu, has identified with Nigerians and criticized the implementation of the policy by the CBN.

Gbajabiamila stated that Tinubu has accused “fifth columnists” in cooperation with the People’s Democratic Party of sabotaging the election and called for a few more days to address the issues.

In conclusion, the speaker of the House of Representatives has indicated that the House will continue to monitor the situation and take necessary actions if required to address the hardships that Nigerians are facing due to the currency swap policy implemented by the Central Bank of Nigeria.