N5,000 NOTE: JONATHAN, MAKU NOT ON SAME PAGE - REPS

The House of Representatives yesterday lambasted Nigeria's Information Minister, Labaran Maku, for a statements credited to him that the federal government was not bound by the lawmakers' resolution rejecting the planned introduction of N5000 notes.

The Lower House said that the minister was out of tune with recent decisions by President Goodluck Jonathan in shelving the contentious plan embarked upon by Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi.

'Maybe the rain has stopped and he (referring to Maku) thought it is still raining.'

The Lower House spokesman, Zakari Mohammed, said at a briefing with newsmen yesterday.

Zakari suggested a possible disconnect between the information minister and the president.

'Labaran Maku's statement came later because the same Tuesday night. The speaker and the Senate President were with Mr President and certain agreements and conclusions were reached.

'Labaran might not exactly know what has been happening. As far as I am concerned, I don't think he is on the same page with his boss on that matter,' Mohammed said.

The House of Representatives yesterday insisted that it was not pursuing a vendetta in its insistence on the sack of the Director-General of the Security and Exchange Commission (SEC), Arunma Oteh, indicted by the former's report of the probe into the near collapse of Nigeria's Capital Market.

Relying on the Investment and Securities Act 2007 which provides for not less than 15 years cognate experience in capital market operation to head SEC, the Lower House reiterated its stance that Oteh was not competent to head SEC despite the defiance of the presidency in keeping her.