Naira swap: House will reconvene if CBN fails to address hardship- Gbajabiamila

Speaker of the House of Representatives Femi Gbajabiamila, has stated that if the Central Bank of Nigeria (CBN) does not address the difficulties Nigerians suffer as a result of the currency swap policy, the House will be forced to reconvene before the February 25 elections.

After the Green Chamber met with CBN Governor Godwin Emefiele to discuss the policy, the speaker promised that the House would continue to keep a close eye on the policy’s execution.

Speaking during a town hall meeting with some ethnic groups in Surulere, Lagos state on Sunday, Gbajabiamila said he was on the verge of signing an arrest warrant against Emefiele following his initial failure to appear before an ad hoc panel of the House.

“The House of Representatives intervened on several occasions. We summoned the CBN governor the first time and again, but he refused to answer, because we had many hard questions for him.

“It was until I issued the threat of warrant of arrest before he came and I would’ve signed that warrant; it would’ve been the first time in the history of National Assembly that a CBN governor would be arrested. I would’ve done it.

“Many have argued on the independence of CBN, the autonomy of CBN. That does not make CBN above the law. The constitution gives the House the power to issue an arrest warrant against anyone, we can summon anybody, and that was exactly what the House was going to do until the CBN governor came.

“So, we are watching, and we are monitoring very closely. If need be, we will reconvene the House, even though we’ve all been away for our elections. I will call the House back, if need be.”

Gbajabiamila further stated that, despite the continuous difficulty, the APC presidential candidate, Asiwaju Bola Ahmed Tinubu, has associated with Nigerians and criticized the policy’s implementation at this time, necessitating the extension of the deadline for the collection of old currency.

“On the currency swap, let me explain something to you. We are all very intelligent people. Many are suffering, we have paid your salary and you cannot withdraw it; people cannot eat, what kind of thing is that?

“Many have said he’s talking about Buhari, but he told them ‘no, I’m not talking about Buhari; I’m talking about fifth columnists.’ If you don’t know the meaning of fifth columnists, go and check your dictionary. Fifth columnists infiltrate people, they even infiltrate families, otherwise how do you explain this type of policy?

According to the speaker, the president, being a compassionate person has asked for a few more days to look at everything that is going on and see if anything could change.

He prayed that things will change but assured of the House intervention if there are no changes.

“So, you have the tale of two presidential candidates: one who stands with the people and says this currency swap must stop; the second one says,’ no, it cannot stop, it’s a good policy. CBN, don’t listen to him. Let the people continue to suffer.’ I leave the rest to you to determine who is with you and who is against you,” the speaker added.