The Governor of Central Bank of Nigeria, CBN, Godwin Emefiele will appear before the Senate on Tuesday to explain the continuous fall of the naira against the major foreign currencies.
According to Senate Leader, Ali Ndume, the CBN Governor was summoned in furtherance of the Senate's investigation into the constant fall of the naira at the parallel market.
Although the Central Bank of Nigeria has pegged the naira at 197 - 199 to the dollar since March 2015, the local currency has continued to fall at the unofficial market, reaching an all time low of N305 to $1 USD last week.
Said Ndume, “In view of this worrisome situation and the fact that we all know that this country depends so much on imported materials and even food, there is a need for this senate to, as a matter of urgency, invite or summon the governor of CBN to explain this situation and to provide the necessary solution.”
Posts
0 comments:
Post a Comment