House of Representatives says NO to N5,000 note, Oteh’s reinstatement

by Stanley Azuakola

The National Assembly has returned from its two months rest. And just in case Nigerians did not take note, the House of Representatives resumed today and kicked off proceedings by ordering the Central Bank of Nigeria, CBN, to shelve its plans to print the N5, 000 notes.

Feedback from the Senate’s discussion on the matter also shows that they too may arrive at a similar resolution.

That wasn’t the only resolution of the House today. It also directed the President to remove
Aruma Oteh, the Director General of The Security and Exchange Commission. Oteh was initially suspended, but later re-instated by President Goodluck Jonathan as DG after the public altercation with a member of the House Herman Hember, who used to chair the House Committee on the Capital Market.

The decisions of the House today have effectively ensured that its confrontation with the executive, which reached a crescendo just before it went on recess, will continue.

A court had recently granted the House leave to proceed with impeachment proceedings against the president if it so desired.


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