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Reps summon banks over new naira notes scarcity

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14 arrested over new naira notes sale in Kano

As a result of the scarcity of new naira notes ,the House of Representatives on Tuesday, has declared its intention to invite deposit money banks, also known as commercial banks, on Wednesday

According to The PUNCH, the Bank are expected to be represented by their managing directors under the aegis of the Bankers’ Committee.

They will be meeting with an ad hoc House committee chaired by the Majority Leader, Alhassan Ado-Doguwa, on Wednesday at the Green Chamber.

The House voted in plenary on Tuesday that the banks be invited to explain the purported supply shortage from the Central Bank of Nigeria, after which the lawmakers would interrogate the central bank’s leadership.

The House also agreed to extend the period for exchanging old notes for new ones by six months.

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