Key highlights from the House plenary include calls for the CBN to address the ongoing cash scarcity, discussions on a new COVID-19 variant, and another defection from the Labour Party to the APC
Cash Scarcity: Reps task CBN to address crisis
Just as predicted by OrderPaper’s LIFE Service, the House of Representatives has called for an investigation into the ongoing scarcity of naira notes in commercial banks, a situation that has caused widespread hardship for Nigerians and disrupted economic activities.
In a motion of urgent public importance, moved by Rep. Uguru Emmanuel (APC, Ebonyi), he highlighted the urgent need for the Central Bank of Nigeria (CBN) to address the cash crisis. The House also directed the CBN to call commercial banks to order on the matter.
Uguru emphasized the critical role of cash availability in driving consumer spending and business investments, which are vital for economic growth. He warned that the current cash shortages in banks have severe consequences for individuals and the nation’s economy. Citing the CBN’s 2022 cash withdrawal policy, which limits cash withdrawals to ₦500,000 for individuals and ₦5,000,000 for corporate entities, Rep. Uguru noted that the policy has not been officially repealed. Yet, commercial banks are now struggling to provide as little as ₦50,000 to account holders.
“The cash crunch has become a bottleneck for economic activities. Entrepreneurs waste entire days in long queues at banks, only to be handed ₦10,000, or in some cases, leave empty-handed. This is not just a disruption of economic activities but also a cause of hopelessness for many, particularly rural dwellers who lack access to alternative payment systems,” Uguru stated.
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Reps want strict border surveillance over COVID-19
The House of Representatives has urged the Federal Ministry of Health and Social Welfare, the Nigeria Centre for Disease Control (NCDC), and other relevant agencies to intensify surveillance at international borders and entry points to prevent a possible outbreak of the newly identified COVID-19 variant, XEC, as announced by the World Health Organization (WHO).
In a motion sponsored by Rep. Unyime Idem (PDP, Akwa Ibom), the House called for the provision of thermal scanners, infrared thermometers, and trained personnel to screen and quarantine incoming passengers. It also emphasized the need for public sensitization campaigns about the new variant and heightened monitoring systems to detect and report suspected cases.
Idem highlighted the devastating impact of the initial COVID-19 pandemic on global health and economies, including Nigeria, and stressed the importance of vigilance and proactive measures to address emerging threats.
Labour Party loses one more Rep to APC
Member representing Barikin Ladi/ Riyom federal constituency Rep. Fom Dalyop Chollom defected from Labour Party to the ruling All Progressives Congress (APC) on Tuesday.
This was revealed in a letter read during plenary by Speaker Abbas Tajudeen. Rep. Chollom explained that the party’s internal conflicts had made it difficult for him to align with any faction, hindering his ability to deliver effective representation hence the need for his defection.
BILLs CHART FOR THE DAY
Below is OrderPaper’s signature presentation of bills taken in the House plenary today. Readers are invited to contact us for further information via info@orderpaper.ng or WhatsApp via +234 704 700 3031
