The House of Representatives has summoned Central Bank Governor Godwin Emefiele for quizzing over new cash withdrawal policy and the Recolouring of some denominations of naira.

Mr Emefiele is expected to appear before the lower chamber of the Nigerian parliament on Thursday December 15, a tweet by the House’s official handle stated.

The invite followed a resolution at plenary on Thursday. 

Mr Emefiele will be asked to shed more lights on the controversial policies, the tweet explained further.

“@HouseNGR, through a resolution, invites @cenbank Governor  @GodwinIEmefiele to appear before the House on Thursday 15th December 2022 at 11 am to shed light on the newly proposed naira redesign and withdrawal limit policies,” tweet by the official handle of the House read.

Peoples Gazette on Tuesday reported that the apex bank had introduced a new policy that will limit over-the-counter cash withdrawals by individuals and corporate entities to N100,000 and N500,000 per week, respectively.

In a circular on Tuesday, the apex bank said the new directive will take effect nationwide on January 9, 2023.

The development came shortly after the newly redesigned N200, N500, and N1000 banknotes were launched by President Muhammadu Buhari’s regime.