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[BREAKING] Naira Notes Swap: Gbajabiamila Threatens CBN Governor, Emefiele With Arrest

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The Speaker of the House of Representatives, Femi Gbajabiamila, has declared his readiness to issue a warrant of arrest on the Governor of the Central Bank of Nigeria, Godwin Emefiele if he fails to appear before its committee on Thursday.

Gbajabiamila said instead of the House adjourning plenary till February 28 for the elections as planned, the lawmakers would reconvene on Tuesday to take an action against Emefiele and other bank chiefs who fail to show up.

The Speaker, who noted that Emefiele is his friend, pointed out that he would not hesitate to demand the Inspector-General of Police to effect the CBN governor’s arrest and forceful appearance before the House.

The House had set up an ad hoc committee to investigate the scarcity of the new naira at the Deposit Money Banks, also known as commercial banks, leading to tension over the January 31 deadline set by the CBN for the exchange of the old notes with the newly designed ones.

Chairman of the committee, Alhassan Ado-Doguwa, at the plenary on Thursday, informed the House about the non-appearance of the CBN chiefs before it on Wednesday. He noted that the committee had rescheduled the meeting to 1 pm on Thursday.

However, Gbajabiamila also informed the House that the CBN had written to the Clerk, informing the House of Emefiele’s inability to appear before the committee on Thursday.

The Speaker said the House would exercise its powers as contained in Section 89 of the 1999 Constitution.

Gbajabiamila also noted that the CBN Act allows the admittance of an old naira note by banks, even after it had ceased to be legal tender.

The House had on Tuesday called on the President, Major-General Muhammadu Buhari (retd.), over the brewing crisis occasioned by the January 31 deadline.

Apart from asking the CBN to extend the window for swapping the old notes with the newly redesigned one by six months, the House had invited the banks to a meeting on Wednesday over the scarcity of new naira notes.

The Managing Directors/Chief Executive Officers of the banks, under the auspices of the Bankers’ Committee, were to meet with an ad hoc committee of the House to be chaired by the Majority Leader, Alhassan Ado-Doguwa.

The House had particularly resolved that the banks should be invited to explain the alleged supply shortage from the CBN, after which the lawmakers would invite the leadership of the apex bank for questioning.

The House “call on President Muhammadu Buhari to intervene in the insistence of the CBN on the tight deadline for the implementation of the cashless policy and currency swap.”

The lawmakers also urged the CBN to extend the implementation of the cashless policy “to at least six months as well as review the daily withdrawal limit and the charges therefrom.”

The resolution follows the unanimous adoption of a motion of urgent public importance moved by a member of the House from Katsina State, Sara Soli, at the opening of the plenary on Tuesday.

On Wednesday, the CBN failed to appear before the committee, with both sides blaming it on short notice.

BIG STORY

FULL LIST: Tinubu Appoints IBB’s Son, Muhammad Babangida Chairman Bank Of Agriculture, Others As Heads Of Govt Agencies

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President Bola Ahmed Tinubu has appointed Muhammad Babangida, the son of the former military President, as chairman of the revamped Bank of Agriculture.

President Tinubu approved the appointment today, along with seven others. Some of them will serve as chairmen or directors-general of Federal agencies.

Muhammad Babangida, 53, is an alumnus of the European University in Montreux, Switzerland, where he earned a Bachelor’s degree in Business Administration and a Master’s degree in Public Relations and Business Communication. He later attended Harvard Business School’s Executive Program on Corporate Governance in 2002.

Others appointed by the President are:

Lydia Kalat Musa (Kaduna State) Chairman, Oil and Gas Free Zone Authority (OGFZA).

Jamilu Wada Aliyu (Kano State) Chairman, National Educational Research and Development Council (NERDC).

The Hon. Yahuza Ado Inuwa (Kano State) is the Standard Organisation of Nigeria (SON) chairman.

Sanusi Musa (SAN, Kano State) is the Chairman of the Institute of Peace and Conflict Resolution(IPCR).

Prof. Al-Mustapha Alhaji Aliyu (Sokoto State) is the Director-General of the Directorate of Technical Cooperation in Africa (DTCA).

Sanusi Garba Rikiji (Zamfara State) is the Director-General of the Nigerian Office for Trade Negotiations (NOTN).

Mrs Tomi Somefun (Oyo State) is the Managing Director of the National Hydro-Electric Power Areas Development Commission (HYPPADEC).

Dr Abdulmumini Mohammed Aminu-Zaria (Kaduna State) has been appointed Executive Director of the Nigerian Integrated Water Resources Management Commission (NIWRMC).

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

July 18, 2025

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BIG STORY

Buhari Never Wanted To Congratulate Saraki, Dogara After Emerging Senate President, Speaker — Femi Adesina

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Femi Adesina, who served as Special Adviser on Media and Publicity to the late President Muhammadu Buhari, revealed that Buhari was initially unwilling to congratulate Bukola Saraki and Yakubu Dogara after they controversially became Senate President and Speaker of the House of Representatives in 2015.

Adesina shared this in a tribute to Buhari, reflecting on his early experience as the president’s media aide and the difficulty of balancing loyalty with professional duty.

He explained that the incident happened just nine days after he took up the role of presidential spokesman.

According to Adesina, Saraki and Dogara emerged as leaders of the National Assembly against the preference of the ruling All Progressives Congress (APC).

Although their emergence was viewed as defiant, it still adhered to constitutional norms.

“I told the President we needed to congratulate them. He balked. But I stood my ground. He said no, I also said no. I said it would portray him as undemocratic,” Adesina wrote.

He noted that Buhari later agreed to issue the statement, making only a small addition to the final version.

“At the end of the day, he reasoned with me and the statement was written, with him just adding one word,” he stated.

“Keeping to his word is part of the famed integrity. Argue with me. If you have a better point, I’ll agree with you.”

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BIG STORY

Road To 2027: Everyone Afraid Of Atiku — Dele Momodu Claims As He Joins ADC

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Dele Momodu, the publisher of Ovation International, has said that “everyone is afraid” of former vice-president Atiku Abubakar.

He made this remark while giving reasons for leaving the Peoples Democratic Party, PDP, to join the African Democratic Congress, ADC.

Momodu also confirmed that he would be backing Atiku in the 2027 presidential election.

During an appearance on Channels TV on Thursday, Momodu stated that his endorsement of Atiku stems from a strategic understanding of Nigeria’s political dynamics.

He said: “Everybody is afraid of Atiku, and that is exactly why I, Dele Momodu, support him.

“The fear the ruling party has for him shows he remains the most formidable opposition figure today.

“When everyone is trying to discredit or silence a man, it means he’s the one they truly fear.”

Momodu previously ran for president in 2011 and took part in the PDP presidential primaries in 2022.

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