Senate Summons CBN Governor Over Naira Depreciation- The Senate has summoned the governor of the Central Bank of Nigeria, Godwin Emefiele, over the depreciation of the naira. VANGUARD reports.
Reports disclosed that a United States dollar is exchanged for N658 in a parallel market on Wednesday. Information Guide Nigeria
See Other Top News:
- JUST IN: Judge Orders To Apprehend Premium Times Journalist Inside Courtroom
- Insecurity Challenge: Lawan Stops Moves To Impeach Buhari, PDP Senators Stage Walkout
- APC Appoints Gobir As New Senate Leader
- Over 150 Nigerians Return From Libya
This led to the lawmakers’ decision to invite the CBN governor following a motion by Olubunmi Adetunmbi, senator representing Ekiti north.
Contributing to the debate, Sani Musa, senator representing Niger east, said the naira would appreciate only if the country become a productive one. jamb results
“Let’s eat what we have; let’s do with what we have. Naira will continue to appreciate until we start manufacturing,” Musa said.
On her part, Biodun Olujimi, senator representing Ekiti south, accused the CBN of not taking responsibility which has led to the crash of naira.
“Someone should be able to say I have failed, and that is the CBN,” Olujimi said.
“Most of what is happening is because people are taking out the dollar and selling and bringing them back in — we should be penalising somebody for what has happened to the naira-dollar rate.”
“The time has come for us to look holistically into what is happening. What is happening to the dollar is a replica of what is happening to Nigeria.”