The Central Bank Governor (CBN), Godwin Emefiele, is before the House of Representatives Ad hoc Committee on New Naira Redesign and Naira Swap Policy which is investigating the scarcity of the new naira notes.

Mr. Emefiele while addressing the committee explained that he had been out of the country which led to his failure to honour previous invitations by the committee.

Speaking about the redesign of the naira, he said the CBN’s actions were in line with international best practices and the apex bank has to be in control of the currency in circulation.