Ibekimi Oriamaja Reports.
Godwin Emefiele, the governor of the Central Bank of Nigeria, has been called before the Senate in relation to the naira’s depreciation.
According to reports, on Wednesday, a dollar was converted into N658 in a black market.
Following a move by Senator Olubunmi Adetunmbi of Ekiti North, the senators’ decision to invite the CBN governor was influenced by the currency’s decline.
Sani Musa, a senator for Niger East, weighed in on the discussion and stated that the naira would only appreciate if the nation became productive.
“Let’s make due with what we have and consume what we have. Until we begin manufacturing, the naira will continue to appreciate, according to Musa.
Biodun Olujimi, a senator for Ekiti South, accused the CBN of failing to accept responsibility for the naira’s devaluation.
Olujimi stated, “The CBN should be able to say that I have failed.”
“Most of what’s occurring is due to someone taking out dollars, selling them, and then bringing them back in; we ought to punish someone for what has occurred to the naira-dollar exchange rate,” said the speaker.
“It’s time to take a comprehensive look at what’s going on. A copy of what is happening to Nigeria may be found in what is happening to the dollar.
The Red Chamber requested that the central bank halt the express decline in the value of the na.
