The House of Representatives, has called on the acting ?Governor of the Central Bank of Nigeria (CBN), Dr Sarah Alade, to investigate the alleged “bribe for new Naira notes?? allegation against some of the bank’s staff.

The resolution followed a motion by Rep. Ismail Hussain (PDP-Kogi), which was adopted when put to vote by the Speaker, Aminu Tambuwal.


The motion was entitled: “Urgent need to energise the fight against the trading in Naira Notes??.

The House also urged the Nigeria Police and State Security Service to investigate, arrest and prosecute any bank official or any person engaged in the illegal sale or hawking of Naira notes.

It also urged the National Orientation Agency (NOA) to further intensify its campaign against the abuse of the Naira.

The House also urged the CBN to replace the mutilated old Naira notes with new ones.

Hussain said that Section 21(4) of the CBN Act, 2007, has made it a punishable offence for any person to hawk, sell, or trade in Naira notes or coins other than the notes issued by CBN.

According to him, the persistent scarcity of new and lower notes has created an avenue for illegal currency hawkers to make brisk business of selling the Naira notes.

Hussain said that the illegal sale of the Naira notes by officials and touts had persisted in spite of the provisions of the CBN Act.

He expressed concern by the unconfirmed reports that currency hawkers bribe some devious officials of the CBN to obtain the new notes which genuine bank customers could not get.

The lawmaker stated that the currency hawkers at the Dei- Dei junction in Abuja, received N200 commission for every N1,000 sold .

Hussain urged the CBN governor to as a matter of urgency look into the matter.

In their various contributions to the debate, Reps Abike Dabiri- Erewa (APC Lagos), Fort Dike (PDP-Anambra), condemned the sale of Naira notes, saying that it was an illegal and fraudulent act.

Rep Nosakhare Osahon,(APC-Edo), said: “It sounds absurd that people sell Naira notes, this is fraud and corruption of the highest order.??


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