By Muhammed Abubakar, Reporting
Visibly worried Nigerian Senate, on Monday, summoned the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over the depreciation of naira.
This followed a motion by Senator Olubunmi Adetunmbi (APC, Ekiti North) in the floor of the red chamber.
Stonix News reports that Naira currently trades between N690 and N700 per dollar at the parallel market.
Sani Musa, senator representing Niger East, while contributing to the debate, said the Naira would appreciate if Nigerians consume what they produce.
Senator representing Ekiti South, Biodun Olujimi, on her part, accused the CBN of taking responsibility to defend the Naira.
“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,” she averred.
The Nigerian upper legislative chamber, therefore, asked the apex bank to halt the rapid decline of the value of the Naira.
The motion was adopted after Senate President Ahmad Lawan put it to a voice vote.
What's your reaction?
