Politics
Again, Reps Give CBN Governor Two Days To Appear Over Withdrawal Limit
The House of Representatives has again given two days ultimatum, for the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to appear before it, to explain the new policy of cash withdrawal limit.
The House gave the ultimatum in Abuja yesterday, while reading a letter by Emefiele, explaining why he could not appear today during plenary.
The Tide source reports that this was due to his inability to appear before the House during the first summon, sequel to the resolution passed by the House on December 15 for him to appear to explain the new policy.
The speaker, Femi Gbajabiamila, said the House should resolve to invite the CBN Governor, to brief it on December 22, or invite his deputy, who is well equipped, to come and brief the House on the new policy.
In his letter, Emefiele had said that he was unavoidably absent, as he was in the US with the President, on official visit, adding that the House should give him another date.
Gbajabiamila said, “ The earlier date is today, at 10 a.m, and just yesterday, the clerk received a letter where it was stated that the CBN Governor was regrettably unavailable because he has other official engagement.”
In his contribution, Rep. Yusuf Gadgi (APC-Plateau), said there was need for public officers to account for their activities before the national assembly, whenever they were called upon.
According to him, public officers should know that it was not the speaker or any member that was inviting the CBN Governor to come and explain some of the policies that Nigerians need to know.
“I am not against the policy, but against disrespect for the speaker, who is the symbol of this House.
“We have name to protect, we should be mindful of the impression the House is given, coming back to address some of these policies is important and we will not tolerate further excuses,” he said.
Responding, Rep. Femi Bamishile (APC-Ekiti), appealed to members of the house, to exercise patience, adding that the letter to the CBN Governor came when he was out of the country
He said a new date could be given to the CBN Governor, while urging the speaker to give him a new date.
On his part, Rep Cook Olododo (SDP-Kwara), asked if the Speaker of the House was sure that the CBN Governor would be available on the new date.
Rep Ndudi Elumelu, the Minority Leader of the House, said the house had taken a position, adding that the issue of inviting the CBN Governor was just to fulfil all rigthousness.
“We have asked him to stop the implementation of the policy. What we should be looking at, is whether he will disregard the resolution and go ahead with the policy,” he said.
Al-Hassan Doguwa, the Majority leader of the House, said it would not be too bad if the governor should come and explain the new policy before the house.
He added that in this case, questions could be raised when he comes, adding that it would help the house to make informed decision.
The speaker, however, said the important thing was to get proper briefing and based on the law, the governor should brief this house.
“At this point we will be requesting for the official assignment that will keep the CBN governor away from the country for that long.
Gbajabiamila later clarified that the invitation to Emefiele was not from the speaker, but from the House, adding that his refusal to come today should not be seen as disrespect to him.
The Senate yesterday received the 2026-2028 Medium Term Expenditure Framework and Fiscal Strategy Paper from President Bola Tinubu, marking the formal launch of the 2026 federal budget cycle.
In a letter addressed to the upper chamber, Tinubu said the submission complies with statutory requirements and sets out the fiscal parameters that will guide the preparation of the 2026 Appropriation Bill.
He explained that the MTEF/FSP outlines the macroeconomic assumptions, revenue projections, and spending priorities that will shape Nigeria’s fiscal direction over the next three years.
The letter was read during plenary by the Deputy President of the Senate, Senator Barau Jibrin (APC, Kano North), who urged lawmakers to expedite consideration of the document.
“It is with pleasure that I forward the 2026 to 2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper for the kind consideration and approval of the Senate.
“The 2026 to 2028 MTEF and FSP were approved during the Federal Executive Council meeting of December 3, 2025, and the 2026 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions therein,” the President stated.
Last week, the Federal Executive Council approved the fiscal projections, pegging the oil benchmark price at $64.85 per barrel and adopting a budget exchange rate of ?1,512/$1 for 2026—figures expected to significantly shape revenue forecasts and expenditure planning.
After reading the President’s letter, Jibrin referred the document to the Senate Committee on Finance, chaired by Senator Sani Musa (APC, Niger East), with a directive to submit its report by Wednesday, December 17.
The Senate adjourned shortly after to allow committees to commence scrutiny of the fiscal framework and continue the ongoing screening of ambassadorial nominees.
Tinubu’s communication to the Senate came less than 24 hours after he transmitted the same MTEF/FSP documents to the leadership of the House of Representatives.
The letter was read on the House floor by the Deputy Speaker, House of Representatives, Benjamin Kalu, who also urged timely legislative action as required by law.
The MTEF and FSP are statutory instruments mandated by the Fiscal Responsibility Act and serve as the blueprint for Nigeria’s annual budgets.
They outline the government’s fiscal stance, macroeconomic assumptions, revenue frameworks, projected deficits, and sectoral priorities over a three-year period.
The Tide reports that approval by the National Assembly is a prerequisite for the executive to present the Appropriation Bill for the next fiscal year.
In a statement on Saturday, the former Senate Leader stated that the allocation of nominees across states and geopolitical zones falls short of the constitutional requirement for fair representation in the composition of the Federal Government.
The ex-Senate Whip warned that allowing the list to pass could deepen ethnic suspicion at a time when the administration should be consolidating national unity.
He highlighted disparities in the spread of nominees, noting that while some states have three or four slots, others have none. He also cited the inclusion of Senator Adamu Garba Talba from Yobe, who reportedly died in July.
“The entire North-East states have seven nominees in the list. Further checks revealed that the South-West geo-political zone has 15 nominees, while North-West and South-East have 13 and 9, respectively.
“North-Central region has 10 nominees in the list of career and non-career ambassadorial nominee while South-South parades 12 nominees,” Senator Ndume said.
According to him, such imbalances could heighten tensions and undermine Section 14(3) of the Constitution.
“My sincere appeal to President Tinubu is to withdraw this list. At this critical juncture in his administration, he should avoid missteps that could undermine national unity and foster ethnic distrust.
“I know him to be a cosmopolitan leader who is at home with every segment and stakeholder in the country. He should withdraw that list and present a fresh set of nominees that will align with the spirit of the Constitution on the Federal Character Principle,” Senator Ndume added.
He accused the legislators of undermining the sanctity of the legislature and acting as instruments of destabilization.
“The members of the Rivers State House of Assembly have, by their actions since they assumed office, shown that they are political puppets and a clog in the wheels of democratic progress,” Comrade Ememobong stated, adding that “They will go down in history as enemies of democracy and those who made mockery of the legislature.”
“So the easiest way to describe their action is a defection from APC to APC,” he said.
Comrade Ememobong announced that the party would deploy constitutional provisions to reclaim its mandate from those who have “ignobly and surreptitiously” abandoned the platform on which they were elected.
“Consequently, the PDP will take legal steps to activate the provision of the Constitution of the Federal Republic of Nigeria (1999 as amended) to recover the mandate gained under the banner of our party which these people have now switched to another platform,” he said.
He urged party members in Rivers State to remain calm and steadfast.
“We urge all party members in Rivers State to remain faithful and resolute, as efforts are underway to rebuild the party along the path of inclusiveness, fairness and equity,” Comrade Ememobong assured.
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