Senate summons CBN governor over fall of Naira

15 January 2016, Abuja – The Senate Thursday summoned the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, over the continuous depreciation of the naira.

Godwin Emefieli, CBN Governor.

Godwin Emefielie, CBN Governor.

The upper chamber said that Emefiele should appear before it by 11:00 a.m. on Tuesday January 19, 2016 to explain the continuous weakening of Naira against the Dollar.

The invitation followed a Point of Order raised by the Senate Leader, Senator Mohammed Ali Ndume, over the matter.

Senate President, Abubakar Bukola Saraki, asked Senator Ndume to convey Senate’s resolution inviting him to the CBN governor.

Saraki said, “The leader in line with our rules, 42:1 did mention this and in line with our rules also we must get the views of the Senators that we should stand this down till Tuesday next week.

“Leader, you convey and invite the Central Bank Governor to come on Tuesday by 11 to present this before the Senate.’’

Ndume had said it was expedient for the Senate to invite the CBN governor to brief it on the free fall of the naira.

He said, “As a today, naira is exchanged for N305 to one dollar.  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 call, invite or summon the governor of CBN to explain this situation and to provide the necessary solution to this situation.’’

 

  • The Nation
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