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


Following news of a shortfall of the new Naira notes in circulation, the House of Representatives decided to meet tomorrow with the CEOs of commercial banks during its plenary session on Tuesday.

The meeting’s main purpose is to find out the actual situation about the new Naira notes’ availability after the Central Bank of Nigeria, CBN, said that they were.

This occurs six days before the CBN’s deadline of January 31 to end the use life 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.